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Plants and Things sold a delivery vehicle N$15,000 (15% VAT exclusive) on December 31st, 2020. The vehicle cost N$97,750 (15% VAT inclusive) at acquisition. Accumulated
Plants and Things sold a delivery vehicle N$15,000 (15% VAT exclusive) on December 31st, 2020. The vehicle cost N$97,750 (15% VAT inclusive) at acquisition. Accumulated depreciation on the date of delivery was 65,000. Which of the following applies to the treatment of profit or loss on disposal? (3 marks)
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