Gains and losses on disposal of a long-lived asset are determined by comparing the asset's cost to its book value.

Name: Gains and losses on disposal of a long-lived asset are determined by comparing the asset's cost to its book value.
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Gains and losses on disposal of a long-lived asset are determined by comparing the asset's selling price to its book value, not its cost. The book value is calculated as the asset's cost minus accumulated depreciation.

Gains and Losses on Disposal of a Long-Lived Asset Are