When an Asset Is Sold, a Gain Is Realized When

question 9

Multiple Choice

When an asset is sold, a gain is realized when the

• A)sale price exceeds the book value of the asset sold.
• B)sale price exceeds the original cost of the asset sold.
• C)book value exceeds the sale price of the asset sold.
• D)sale price exceeds the depreciable cost of the asset sold.

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Definitions:

Cohesiveness

The degree to which members of a group or team are attracted to each other and motivated to stay in the group.

Cultural Relativism

The principle that an individual's beliefs and activities should be understood by others in terms of that individual's own culture.

Rule-Based Ethics

An ethical framework where actions are judged right or wrong based purely on adherence to a set of rules or ethical guidelines.

Consequential Ethics

An ethical approach that evaluates the morality of actions based on their outcomes or consequences.