A loss on disposal of an asset would be reported:
A)in the Operating Revenues section of the income statement.
B)in the Operating Expenses section of the income statement.
C)as a direct increase to the asset account on the balance sheet.
D)as a direct decrease to the asset account on the balance sheet.

Question

Quizplus · Accepted Answer

A loss on disposal is reported in the Operating Expenses section of the income statement.

A Loss on Disposal of an Asset Would Be Reported