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Simplify: (3) 2(3) 5
Loss on Disposal
The financial loss incurred when an asset is sold for less than its carrying value on the books.
Other Revenue
Income generated from activities not related to a company’s primary operations.
Fixed Assets
Long-lasting physical resources used in the functioning of a business, not expected to be spent or transformed into cash over the course of one year.
Current Assets
Resources intended to be turned into cash, disposed of, or utilized within a period of one year or the duration of the company's usual operational cycle, depending on which of the two extends longer.
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