When a Plant Asset Is Sold,if the Book Value Is

question 115

True/False

When a plant asset is sold,if the book value is lower than the sales price,there will be a loss on sale.

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Definitions:

Sales Revenue

The total income generated from the sale of goods or services before any expenses are subtracted.

Cost of Goods Sold

The immediate expenses associated with producing a company's sold merchandise.

Stock Dividend

A distribution of extra shares instead of cash to shareholders, which raises the total share count they possess.

Net Income

The amount of money a business keeps as profit after all expenditures, taxes, and costs are deducted from its aggregate revenue.