When a firm sells an asset for ____, it realizes a capital gain and must pay income taxes on it.
A)book value
B)less than book value
C)more than book value
D)any amount

Name: When a firm sells an asset for ____, it realizes a capital gain and must pay income taxes on it. A)book value B)less than book value C)more than book value D)any amount
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Question

Quizplus · Accepted Answer

When a firm sells an asset for more than its book value, it realizes a capital gain. The gain is subject to income taxes.

When a Firm Sells an Asset for ____, It Realizes