To Determine If There Is a Gain or Loss on the Sale

question 50

Multiple Choice

To determine if there is a gain or loss on the sale of an asset,you must compare:

• A) sales price and book value.
• B) sales price and salvage value.
• C) sales price and original cost.
• D) book value and salvage cost.

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Definitions:

Benefits

Advantages or gains, often associated with employment or business dealings, that improve the condition or situation of an individual or entity.

Nonfinancial Forms

Types of benefits or compensation that are not in the form of money, such as healthcare, retirement plans, or company-provided housing.