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If a fixed asset is sold and the book value is less than cash received, the company must a. recognize a loss on the income statement under other ex...

Question:

If a fixed asset is sold and the book value is less than cash received, the company must

a. recognize a loss on the income statement under other expenses.

b. recognize a loss on the income statement under operating expenses.

c. recognize a gain on the income statement under other revenues.

d. Gains and losses are not to be recognized upon the sell of fixed assets.

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