A Loss on Disposal of an Asset Is Reported

question 89

Multiple Choice

A loss on disposal of an asset is reported:

• A)in the Other Revenues section of the income statement.
• B)in the Other Expenses section of the income statement.
• C)as a direct increase to the asset account on the balance sheet.
• D)as a direct decrease to the asset account on the balance sheet.

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Definitions:

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