When a property, plant, and equipment asset is sold for cash, any gain or loss on the asset sold should be recorded
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Under Article 2 of the Uniform Commercial Code, which of the following statements illustrates a merchant?
A. Charles, a chef, sells his car to his neighbor. B. Annie, a teacher, contracts to sell her microwave and television to her friend, Iris. C. Nick, an electronic goods dealer, contracts to sell laptops to another firm. D. Theodora, a doctor, sells her phone to her friend.
Most project managers advocate the use of group rewards rather than individual rewards.
Answer the following statement true (T) or false (F)
In ______, ordinary people commit crimes while carrying out their daily organizational duties.
A. unforeseen evil B. ordinary evil C. administrative evil D. silent evil
When the effective-interest method is used, the amortization of the bond premium
A) increases interest expense each period B) decreases interest expense each period C) increases interest expense in some periods and decreases interest expense in other periods D) has no effect on the interest expense in any period