Under the Accrual Basis of Accounting, Gains and Losses on Disposal

question 11

Multiple Choice

Under the accrual basis of accounting, gains and losses on disposal of fixed assets

• A)are not recognized.
• B)are recognized when the proceeds cash of the sale are received on the installment basis.
• C)are recognized only if there is a gain.
• D)are recognized when the sale occurs, regardless of when the cash is collected.

---

Definitions:

Lymphatic System

Part of the immune system, comprising a network of lymphatic vessels that carry a clear fluid called lymph, lymph nodes, and other organs.

Lymphocytes

Lymphocytes are a type of white blood cell integral to the immune system, involved in protecting the body against infectious disease and foreign invaders.

Hyaline Cartilage

A type of smooth cartilage found on joint surfaces, in the respiratory tract, and in the fetal skeleton, providing support with some flexibility.

Fibrocartilage

A type of cartilage characterized by thick bundles of collagen fibers, found in areas requiring tough support or capable of withstanding heavy pressure, such as intervertebral discs.