When Firms Dispose of a Long-Lived Asset Before the End

question 60

Multiple Choice

When firms dispose of a long-lived asset before the end of its useful life,the difference between the net book value of the asset and the sale proceeds is a/an

• A)extraordinary gain or loss.
• B)gain or loss from continuing operations.
• C)gain or loss from a discontinued item.
• D)gain or loss from a prior perioD.

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Definitions:

Friendliness

The quality of being kind, pleasant, and supportive towards others, facilitating positive interactions and relationships.

Phone Use

The manner in which a telephone is utilized for communication, encompassing both voice calls and other functionalities.

Etiquette

A set of conventions and norms that govern the behavior of individuals within social or professional situations.

Nonverbal Communication

The process of conveying a message without the use of words, through gestures, facial expressions, body language, and tone of voice.