Gains on Disposal of Plant Assets Are Generally Shown as "Other

question 86

True/False

Gains on disposal of plant assets are generally shown as "other income" on the income statement.

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Definitions:

Flexible Budget

A budget that adjusts or varies with changes in the volume of activity, revenue, or other factors influencing budgeting.

Static Budget

A financial plan that does not change or adjust over the period, regardless of any changes in business activity levels.

Flexible Budget

A budget that adjusts to changes in activity or production levels, allowing for more accurate budgeting.

Actual Results

The actual outcomes or figures achieved by a business, contrasting with forecasts or budgeted amounts.