Why is it common to have a gain or loss on the disposal of a long term operating asset Is it true that if the useful life and salvage value of an asset could be known with certainty and were realized, there would never be such a gain or loss ...

It is common to have a gain or a loss on the disposal of a longterm operating asset because ...

Why is it common to have a gain or loss on the disposal of a long-term operating

Question:

Why is it common to have a gain or loss on the disposal of a long-term operating asset? Is it true that if the useful life and of an asset could be known with certainty and were realized, there would never be such a gain or loss?

Salvage Value
Salvage value is the estimated book value of an asset after depreciation is complete, based on what a company expects to receive in exchange for the asset at the end of its useful life. As such, an asset’s estimated salvage value is an important...