A Gain Is Recognized on the Disposal of Plant Assets

question 90

Multiple Choice

A gain is recognized on the disposal of plant assets when:

• A)The sales price is greater than the residual value but less than the book value.
• B)The sales price is less than both the book value and the residual value.
• C)The sales price is greater than the book value and greater than the residual value.
• D)The sales price is greater than the book value and less than the residual value.

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Definitions:

Family Interaction

The dynamics, communication, and relationships among members within a family unit.

Effective Communication

The successful conveyance and exchange of ideas, thoughts, or feelings, ensuring clarity, understanding, and achieving the desired outcome.

Married Couple

Two individuals legally united in marriage, who share a personal and intimate relationship.

Pregnant

The state of carrying one or more embryos or fetuses in the womb, marked by various physiological and hormonal changes.