Match each account name to the financial statement section (a-i) in which it would appear.
-Loss on Disposal of Asset
A)Current assets
B)Fixed assets
C)Intangible assets
D)Current liability
E)Long-term liability
F)Owner's equity
G)Revenues
H)Operating expenses
I)Other revenue and expense

Question

Quizplus · Accepted Answer

Loss on Disposal of Asset typically appears in the "Other revenue and expense" section of the income statement, as it is not a regular operating expense or revenue but rather an incidental result of disposing of an asset.

Match Each Account Name to the Financial Statement Section (A-I)