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