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  3. true or false when a depreciable asset is sold, a

TRUE OR FALSE When a depreciable asset is sold, a loss arises if the sales proceeds exceed...

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Accounting

TRUE OR FALSE

  1. When a depreciable asset is sold, a loss arises if the salesproceeds exceed the net book value.(TRUE OR FALSE )
  2. Variable costs are costs that change with the level of activity(unit volumes).(TRUE OR FALSE )
  3.         Revenue shouldbe recorded in the same period as the cash is received.(TRUE ORFALSE )
  4.         For a servicebusiness, revenue should be recorded as soon as a contract issigned and agreed.(TRUE OR FALSE )
  5.         The payment ofrent in 2019 will decrease assets and will reduce 2019 netincome.(TRUE OR FALSE )

Answer & Explanation Solved by verified expert
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1 When a depreciable asset is sold a loss arises if the sales proceeds exceed the net book valueFalse Gain will arise if sales proceeds are more than book value 2 Variable costs are costs that change with the level of    See Answer
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