The gain or loss from disposal of property,plant and equipment is the difference between an asset's book value and the value received.

Name: The gain or loss from disposal of property,plant and equipment is the difference between an asset's book value and the value received.
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Question

Quizplus · Accepted Answer

This statement is true. The gain or loss is calculated by subtracting the book value (historical cost minus accumulated depreciation) from the amount received from the sale or disposal of the asset.

The Gain or Loss from Disposal of Property,plant and Equipment