Ordinary gains from the sale of fixed assets should be reported in the other income section of the income statement.

Name: Ordinary gains from the sale of fixed assets should be reported in the other income section of the income statement.
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Question

Quizplus · Accepted Answer

Ordinary gains from the sale of fixed assets are considered operating gains and should be reported in the operating income section of the income statement, not the other income section.

Ordinary Gains from the Sale of Fixed Assets Should Be