Gains from sales of assets other than inventory are shown as part of sales revenue on the income statement.

Name: Gains from sales of assets other than inventory are shown as part of sales revenue on the income statement.
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Question

Quizplus · Accepted Answer

Gains from sales of assets other than inventory are not considered as part of sales revenue. They are usually reported separately as "Other Income" or "Gain on Sale of Assets" on the income statement.

Gains from Sales of Assets Other Than Inventory Are Shown