unomaha.instructure.com Solved: Under IFRS, when a company chooses the revaluation mode... | Chegg.com Which one of the Question 2 3 pts Which one of the following statements about the book value of property, plant, and equipment assets is true? Book value always equals fair or market value of these assets Book value equals the original cost less accumulated depreciation for these assets. Book value equals the original cost less the residual value for these assets. Book value equals the original cost less depreciation expense during the current year for these assets. Question 3 3 pts On January 31, 2020, Alliance Corp. sold a machine that originally cost $120.000, and had accumulated depreciation of $50,000. Alliance sold the truck for $60,000 cash. How much gain or loss did Alliance recognize on the sale? Gain 560,000 Loss $10.000 O Loss 500.000 Gain $10,000