The sale of a depreciable asset resulting in a loss indicates that the proceeds from the sale were
A) less than book value.
B) greater than cost.
C) greater than book value.
D) less than current market value.

Question

Quizplus · Accepted Answer

A sale of a depreciable asset resulting in a loss means that the proceeds from the sale were less than the book value of the asset, which represents the accumulated depreciation of the asset deducted from its original cost.

The Sale of a Depreciable Asset Resulting in a Loss