A Gain Is Recorded on the Sale of Fixed Assets

question 53

Multiple Choice

A gain is recorded on the sale of fixed assets when:

• A) the asset is sold for a price less than its book value.
• B) the asset is sold for a price more than its book value.
• C) accumulated depreciation on asset is less than its selling price.
• D) accumulated depreciation on asset is more than its selling price.

---

Definitions:

Micro-Macro Linkage

The relationship and interplay between individual actions and behaviors (micro-level) and larger societal structures and processes (macro-level).

European

Pertaining to or originating from Europe, often referring to the cultures, languages, or individuals from European countries.

Ontologically

Pertaining to ontology, the branch of metaphysics dealing with the nature of being.

Ambiguity

The quality of being open to more than one interpretation; inexactness or uncertainty in meaning.