A loss will result on the sale of property, plant, and equipment when the carrying amount of the asset exceeds the cash received.

Name: A loss will result on the sale of property, plant, and equipment when the carrying amount of the asset exceeds the cash received.
Brand: Quizplus
Rating: 4.9 (44 reviews)

Question

Quizplus · Accepted Answer

This statement is true. A loss on the sale of property, plant, and equipment occurs when the amount received from the sale is less than the carrying amount (or book value) of the asset.

A Loss Will Result on the Sale of Property, Plant