A Gain Is Recorded on the Sale of Fixed Assets

question 53

Multiple Choice

A gain is recorded on the sale of fixed assets when:

• A) the asset is sold for a price less than its book value.
• B) the asset is sold for a price more than its book value.
• C) accumulated depreciation on asset is less than its selling price.
• D) accumulated depreciation on asset is more than its selling price.

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Definitions:

Inner Ear

Of the mammalian ear, region that contains the fluid-filled vestibular apparatus and cochlea.

Eardrum

A thin membrane in the ear that separates the external ear from the middle ear and vibrates in response to sound waves, aiding in hearing.

Organ Of Corti

The Organ of Corti is the sensory organ located within the cochlea of the inner ear, essential for converting sound vibrations into electrical signals for the brain to interpret.

Located

The specific area or position where something is situated or placed.