If an asset's disposal value is greater than its current book value,a gain on disposal occurs.

Name: If an asset's disposal value is greater than its current book value,a gain on disposal occurs.
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A gain on disposal occurs when an asset is sold or disposed of at a price higher than its current book value. This results in a profit for the company and is recognized as a gain in the financial statements.

If an Asset's Disposal Value Is Greater Than Its Current