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A- selling price is less than book value B- selling price is more than book value C- selling price is equal to book value D- there are not any relationship
B------------------------------------------------------------------------
selling price is more than book value
B- selling price is more than book value
Answer B
When an asset is sold for more than its book value, it is realized as a gain.
(B) is the Correct Ans.
Gain is arising when S.V > B.V or NBV
Loss is arising when S.V < B.V or NBV
So, in this case, Gain..
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