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Because of inexact estimates of the service life and the residual value of a plant asset, a fully depreciated asset was sold in the current

Because of inexact estimates of the service life and the residual value of a plant asset, a fully depreciated asset was sold in the current year at a material gain. This gain most likely should be reported

In the other revenues and gains section of the current income statement.As part of sales revenue on the current income statement.In the extraordinary item section of the current income statement.As an adjustment to prior periods? depreciation on the statement of changes in equity.

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