5) Which of the following is correct regarding gain or loss on disposal of a long lived asset? A) Failure to report a gain on sale of an asset result in an understatement of Stockholders Equity B) Failure to report a gain on the sale of an asset results in an understatement of stockholders' equity. C) Failure to report a gain on the sale of an asset results in an overstatement of net income. D) Failure to report a loss on the sale of an asset results in an understatement of net income