If a corporation sells certain capital equipment for more than its initial purchase price, the difference between the sale price and the purchase price is called a(n). O revenue gain O abnormal gain O capital gain O ordinary gain

If a corporation sells certain capital equipment for more than its initial purchase price, the difference between the sale price and the purchase price is called a(n). O revenue gain O abnormal gain O capital gain O ordinary gain

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 10MC: When treasury stock accounted for by the cost method is subsequently sold for more than its purchase...

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Question

If a corporation sells certain capital equipment for more than its initial purchase price, the difference
between the sale price and the purchase price is called a(n).
O revenue gain
O abnormal gain
O capital gain
O ordinary gain

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