AASB 116 specifies that if an item of property,plant and equipment is sold,then the gain or loss on disposal is measured as the difference between:

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AASB 116 requires that the gain or loss on disposal of property, plant and equipment is measured as the difference between the carrying amount of the asset at the time of disposal and the net proceeds from disposal. This is consistent with the definition of gain or loss on disposal, which is the difference between the selling price and the carrying amount of the asset at the time of disposal. Option B refers to revaluation, which is not relevant for measuring the gain or loss on disposal. Option C refers to adjusted carrying amount, which is not a defined term under AASB 116.

AASB 116 Specifies That If an Item of Property,plant and Equipment