- CFA Exams
- CFA Level I Exam
- Topic 4. Financial Statement Analysis
- Learning Module 7. Analysis of Long-Term Assets
- Subject 3. Derecognition of Assets
CFA Practice Question
When a depreciable asset is sold, ______
B. depreciation expense is adjusted so there is no gain or loss.
C. accumulated depreciation increases.
A. a gain arises if the sales proceeds exceed the net book value.
B. depreciation expense is adjusted so there is no gain or loss.
C. accumulated depreciation increases.
Correct Answer: A
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