Gains on disposal of plant assets are generally shown as "other income" on the income statement.
Correct Answer:
Verified
Q107: A recoverability test for impairment
A)is based on
Q108: The sale of a plant asset may
Q109: Elton Enterprises has recently upgraded its
Q110: Once a company begins to make revaluation
Q111: Appott Technologies recently sold some equipment for
Q113: The entry to journalize the impairment loss
Q114: An improvement or betterment is an expenditure
Q115: Equipment costing $45,000 with a book value
Q116: Companies electing to revalue their fixed assets
Q117: A loss will result on the sale
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents