When an Asset Is Sold,a Gain Is Calculated as the Difference

question 52

Multiple Choice

When an asset is sold,a gain is calculated as the difference between

• A)sale price and the depreciable cost of the asset sold.
• B)sale price and the carrying value of the asset sold.
• C)carrying value and the residual value of the asset sold.
• D)sale price and the original cost of the asset sold.

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Definitions:

External Events

Occurrences outside an organization that can impact its operations, strategies, and success, often unpredictably.

Basic Beliefs

Foundational principles or convictions that are accepted as true by an individual or group, shaping attitudes and behavior.

Antecedent

An event, condition, or cause that happens before another event and influences it.

Stimulus

Any event, object, or signal that triggers a response or reaction from an organism or system.