Gains from the Disposal of Non-Current Assets Are Recognised as ____________

question 51

Short Answer

Gains from the disposal of non-current assets are recognised as ____________ income.

---

Definitions:

Profit Margin

A measure of profitability calculated as net income divided by revenue, expressed as a percentage, indicating the portion of each dollar of revenue that results in net income.

Gross Profit Margin

A financial metric that shows the percentage of revenue that exceeds the cost of goods sold, indicating the efficiency of a company in managing its production costs.

Operating Expenses

Costs incurred through normal business operations, such as rent, utilities, and payroll, that are not directly tied to production.

Periodic Inventory System

A system where inventory levels and cost of goods sold are determined at the end of the accounting period, rather than continuously.