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When profit on sale of fixed assets arises

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Reference no: EM132566371

Question 1: Profit on sale of fixed assets arises when:

Option 1: Sale price is more than the original purchase value of the asset

Option 2: Sale price is more than the depreciated value of the asset

Option 3: Sale price is more than the cumulative depreciation value of the asset

Option 4: Cumulative depreciation value is more than the current depreciated value of the asset

Reference no: EM132566371

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