Question

If a person sells an asset for less than he or she paid for it the result is a

Answer 1

Answer: Capital loss

Step-by-step explanation:

A capital loss is refered to as the loss that is incurred by an economic entity such as an individual, a firm or a government when a capital asset decreases in value and is then sold at a price that's lower than the price that it was purchased.

For example, if an individual buys shares for $100 and then sold the shares for $90. This is a capital loss as the selling price is lower than the cost price.