A Firm Sells Its Headquarters Building at a Gain

Multiple Choice

A firm sells its headquarters building at a gain. This means that at the time of sale

A) the cash or other assets received were greater than the building's book value.
B) the cash or assets received in a transaction were less than the carrying value of the assets given up.
C) the cash or other assets received were greater than the building' carrying value.
D) the cash or assets received in a transaction were less than the building's book value.
E) Both choices a and c are correct.