When an Asset Is Sold, a Gain Occurs When the

question 54

Multiple Choice

When an asset is sold, a gain occurs 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.

---

Definitions:

Family Resemblance

A concept referring to the way in which members of a family share common characteristics, making them recognizable as part of the same group, but without necessarily having a single common feature.

Passive Sentence

A sentence structure where the subject of the sentence is the recipient of an action rather than the doer.

Function Morphemes

Grammatical units that serve to express grammatical relationships or functions within a language, such as prepositions, articles, and conjunctions.

Propositions

Statements or assertions that express judgments or opinions that can be either true or false.