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Consistent with ASC Topic 842, if a company sells an asset for a profit of...

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Accounting

Consistent with ASC Topic 842, if a company sells an asset for a profit of $175,000 and immediately leases it back, the gain is recognized Multiple Choice

A) immediately as a gain to include in discontinued operations.

B)over the life of the lease in proportion to the rental payment.

C)immediately as an ordinary gain, assuming that criteria are met consist with ASC Topic 606.

D) over the life of the lease using the same rate and life used to amortize the leased asset.

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