If an asset's disposal value is less than its ________,a loss on disposal occurs.
A)original market value
B)current book value
C)initial cost or original book value
D)current market value

Question

Quizplus · Accepted Answer

The correct answer is B) current book value. A loss on disposal occurs when the asset's disposal value is less than its current book value, which is the asset's original cost minus any accumulated depreciation.

If an Asset's Disposal Value Is Less Than Its ________,A