Question
When a company sells a fixed asset, the resulting gain
from the sale must be categorized appropriately in the financial statements. Understanding the nature of this gain is crucial for accurate financial reporting and analysis. Considering the classification criteria within the context of accounting standards, which of the following best describes the gain on sale of a fixed asset?ÂSolution
The gain on the sale of a fixed asset is considered an exceptional item because it is significant and unusual but related to the company's core operations. This classification helps distinguish it from regular operating income and expenses, providing clearer insight into the company's financial performance.
Arhar (pigeonpea) is commonly known asÂ
Which one of the following techniques is used to monitor crop health?
The time of discharge of eggs from the Graffian follicles (Ovulation) in cow is about ___ hours after the end of 18 hours estrus.
The process of leaching calcium carbonate from soil is termed:
How much of rainfall quantities is required in a day of 24 hours to call it a rainy day?
Asia’s largest 4 meter International Liquid Mirror Telescope was unveiled at Devasthal, Uttarakhand. The ILMT employs a rotating mirror made...
Which among the following agency is responsible for procurement, distribution and storage of food grain production in India?
Supply chain mapping is the study of ...................................?
Which of the following is a floating weed?
National Centre for Organic and Natural farming is located at ____
