When an Item of Property, Plant and Equipment Is Sold

Multiple Choice

When an item of property, plant and equipment is sold, the resulting gain or loss is calculated as the difference between the:

A) net proceeds from sale and the asset's original cost.
B) asset's estimated fair value and its carrying amount at the date of sale.
C) asset's original cost and its accumulated depreciation at the date of sale.
D) net proceeds from sale and the asset's carrying amount at the date of sale.