A Gain or Loss on Disposal of a Plant Asset

question 10

Multiple Choice

A gain or loss on disposal of a plant asset is determined by comparing the

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

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Definitions:

Messy Room

A disordered or chaotic state of a room where items are scattered without organization or care.

Constructivism

A theory of learning that emphasizes the role of individuals in constructing their own understanding and knowledge of the world, through experiencing things and reflecting on those experiences.