A gain or loss on the sale of a plant asset is determined           by comparing the:       A. Asset's original cost with the sales proceeds       B.  Asset's book value with the sales proceeds       C. Asset's original cost with the asset's book value.       D. Initial estimate of the asset's salvage value with the sales proceeds.       E. None of these.

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
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Chapter5: Adjusting Entries And The Work Sheet
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A gain or loss on the sale of a plant asset is determined   

       by comparing the:

      A. Asset's original cost with the sales proceeds

      B.  Asset's book value with the sales proceeds

      C. Asset's original cost with the asset's book value.

      D. Initial estimate of the asset's salvage value with the sales proceeds.

      E. None of these.

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