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Cost incurred by firm to sell asset
cost incurred by firm to sell asset( machinery & plants) is recorded in which account and what is the name for the account???
Replies (2)
As per accounting standard cost incurred for firm is debited to asset account. Cost of improvement and other expenses till the asset is put to use is capitalised as per accounting standard 10.
I mean the expense to sell the machinery/plant like advertisement for sell of this assets
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