Gains and losses from the disposal of old plant and equipment are reported as other gains or losses in the multi-step income statement.

Name: Gains and losses from the disposal of old plant and equipment are reported as other gains or losses in the multi-step income statement.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Gains and losses from the disposal of old plant and equipment are not considered part of the normal operating activities of a company and are therefore reported as other gains or losses in the multi-step income statement.

Gains and Losses from the Disposal of Old Plant and Equipment