Depreciable asset, When a depreciable asset is sold:

Depreciable asset

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Reference no: EM13259646

When a depreciable asset is sold:

a. a gain arises if the sales proceeds exceed the net book value

b. a loss arises if the sale proceeds exceed the net book value

c. any cash received results in a gain

d. depreciation expense is adjusted so there is no gain or loss

Reference no: EM13259646

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