Question

TRUE/FALSE if the proceeds from the sale of a plant asset exceed its book value a gain on disposal occurs

Answer 1

Not entirely sure if this is what its asking for but if you made a profit on the plant or not depends on how much you spent to care for the plant.

For example, if you bought it for $50, gave it $10 of water, and sold it for $70 you would profit $10.

If you bought it for $50, gave it $50 dollars of water and sold it for $90, you would lose $10.