Upon the Disposal of an Asset, If the Proceeds Are

question 26

Multiple Choice

Upon the disposal of an asset, if the proceeds are greater than the carrying value of the asset the company must:

• A)recognize a loss
• B)recognize a gain
• C)adjust the accumulated amortization account so the carrying value equals the proceeds
• D)adjust the carrying value to market value

---

Definitions:

Daycare Impact

The effects that attending daycare or early childhood education centers may have on a child’s developmental, social, and cognitive outcomes.

Disjunctive Proposition

A logical statement that is true if at least one of its component propositions is true.

Interior Staircase

A set of stairs located inside a building, facilitating access between its different floors.

One-story House

A residential structure featuring all of its living spaces on a single level, without any stairs leading to additional floors.