MCQs > Finance & Management > Financial Accounting > What is the gain or loss on disposal of an asset if at the time of the disposal its cost is $100000, the Bookvalue is $50000, and it sold for $30000?

Financial Accounting MCQs

What is the gain or loss on disposal of an asset if at the time of the disposal its cost is $100000, the Bookvalue is $50000, and it sold for $30000?

Answer

Correct Answer: $-20,000

Explanation:

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