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NEW QUESTION: 1







Answer:
Explanation:

Explanation


NEW QUESTION: 2
When a plant asset is sold for more than its book value
A. cash received plus accumulated depreciation minus gain on disposal equals the original cost
B. book value of the asset minus gain on disposal equals cash received
C. cash received plus accumulated depreciation plus gain on disposal equals the original cost
D. original cost minus accumulated depreciation equals cash received plus gain on disposal
Answer: A
Explanation:
Explanation/Reference:
Explanation:
Gain or loss on disposal of a fixed asset is calculated by subtracting the book value (Original cost - Accumulated Depreciation) from the cash received.

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