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When Firms Dispose of a Long-Lived Asset Before the End

Question 132

Multiple Choice

When firms dispose of a long-lived asset before the end of its useful life,the difference between the net book value of the asset and the sale proceeds is a/an


A) extraordinary gain or loss.
B) gain or loss from continuing operations.
C) gain or loss from a discontinued item.
D) gain or loss from a prior perioD.

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