When an asset is sold and the selling price exceeds the asset's book value,net income will increase.

Name: When an asset is sold and the selling price exceeds the asset's book value,net income will increase.
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A gain on disposal equals the excess of the proceeds from selling the asset over the asset's book value.A loss results when the asset's book value exceeds the proceeds from selling the asset.Gains increase net income while losses decrease net income.

When an Asset Is Sold and the Selling Price Exceeds