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.

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Definitions:

Mechanical Stage Control

A feature on microscopes that allows for precise movement of the specimen slide in the horizontal plane, facilitating detailed examination.

Fine Adjustment Knob

A part of a microscope used to make small adjustments in focus, enhancing the clarity of the image.

Aperture

An opening, hole, or gap, often referring to the variable opening in the lens of a camera through which light passes.

Revolving Nosepiece

A part of a microscope that holds multiple objective lenses and can rotate to change magnification.