Which of the Following Situations Always Results in a Loss

question 131

Multiple Choice

Which of the following situations always results in a loss on derecognition of an asset?

• A) The asset is abandoned.
• B) The cash proceeds from the sale are less than the book value of the asset.
• C) The carrying value of the asset is less than its book value at the time of derecognition.
• D) The cash proceeds from the sale (if any) are less than the acquisition cost of the asset.

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Definitions:

Prejudice

A preconceived opinion or bias, often negative, towards someone or something not based on reason or actual experience.

Social Roles

Expected patterns of behavior, responsibilities, and privileges associated with an individual's position or status within a group or society.

Single Male

An individual man who is not in a marital or committed romantic relationship.

Married Couple

Two individuals united in marriage, legally recognized as partners in a personal relationship, with specific rights and obligations.