Match the descriptions with their terms:
-Is recorded if the proceeds from the sale exceed the carrying amount of the plant asset.
A) Gain on disposal
B) Loss on disposal
C) Trademark
D) Finance lease
E) Asset turnover
F) Average useful life
G) Goodwill
H) Agricultural assets
I) Intangible asset
J) Research costs

Question

Quizplus · Accepted Answer

A gain on disposal is recorded when the proceeds from the sale of a plant asset exceed its carrying amount.

Match the Descriptions with Their Terms