Which of the following statements is correct? Group of answer choices A gain or loss on disposal of a plant asset is determined by comparing the book value of the asset with the proceeds received from its sale The book value of a plant asset is the difference between the cost of the asset and the amount of depreciation expense for the year The book value of a plant asset is the difference between the proceeds received from the sale of the asset and its original cost A gain or loss on disposal of a plant asset is determined by comparing the replacement cost of the asset with the asset's original cost A gain or loss on disposal of a plant asset is determined by comparing the book value of the asset with the asset's original cost

A gain or loss on disposal of a plant asset is determined by comparing the book value of the asset with the proceeds received from its sale

Explanation:

Gain or loss on disposal is presented in the Income Statement as follows:

Gain = Other Income

Loss = Increases Expenses

Gain or loss on disposal

Gain or loss on disposal = Proceeds - Book Value of Asset

Book Value of Asset

Book Value of Asset = Original Cost of Asset - Accumulated Depreciation up to date of Sale of the Asset.

answer; ///(d); determining who competes most closely   with whom evaluating whether industry driving forces and competitive pressure favor some strategic groups and hurt others, and ascertaining whether the profit potential of different strategic groups varies due to the strengths and weaknesses in each groups respective market positions;