Select the one term that best fits each definition
-An increase in equity that results when a plant asset is sold for more than book value.
A) accelerated depreciation
B) amortization
C) assessed value
D) declining-balance method of depreciation
E) double declining-balance method of depreciation
F) gain
G) gain on plant assets
H) intangible assets
I) loss
J) loss on plant assets
K) personal property
L) plant asset record
M) real property
N) return on investment (ROI)

Question

Quizplus · Accepted Answer

A gain on plant assets occurs when a plant asset is sold for more than its book value, which increases equity.

Select the One Term That Best Fits Each Definition