A Gain Is Recognized on the Disposal of Plant Assets

question 190

Multiple Choice

A gain is recognized on the disposal of plant assets when:

• A) The sales price is greater than the book value and less than the residual value.
• B) The sales price is greater than the book value and greater than the residual value.
• C) The sales price is less than both the book value and the residual value.
• D) The sales price is greater than the residual value but less than the book value.

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