Match each account name to the financial statement section (a-i) in which it would appear.
-Gain on Sale of Equipment
A)Current assets
B)Fixed assets
C)Intangible assets
D)Current liability
E)Long-term liability
F)Owner's equity
G)Revenues
H)Operating expenses
I)Other revenue and expense

Question

Quizplus · Accepted Answer

Gain on Sale of Equipment is typically reported in the "Other revenue and expense" section of the income statement, as it is not part of the company's primary operations.

Match Each Account Name to the Financial Statement Section (A-I)