A Gain or Loss on Disposal of a Long-Lived Asset

question 82

Multiple Choice

A gain or loss on disposal of a long-lived asset is determined by comparing the

• A) replacement cost of the asset with the asset's original cost.
• B) carrying amount of the asset with the asset's original cost.
• C) original cost of the asset with the proceeds received from its sale.
• D) carrying amount of the asset with the proceeds received from its sale.

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