Examlex
Simplify the expression.
Gain Reported
The difference reported in financial statements when the sale price of an asset exceeds its book value.
Carrying Amount
The book value of an asset or liability on a company's balance sheet, calculated as its original cost minus depreciation, amortization, or impairment costs.
Disposal of an Asset
The process of selling, scrapping, or otherwise removing an asset from the company's balance sheet due to its disposal, sale, or obsolescence.
Depreciation Recorded
The process of allocating the cost of a tangible asset over its useful life to account for the loss of value over time.
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