Gains on the sale of fixed assets that are not for sale in the ordinary course of business are known as _________________.

Capital gains

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Revenue gains

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Accounting profits

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Benefit cost expenses

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Solution

The correct option is A Capital gains
Gains on the sale of fixed assets that are not for sale in the ordinary course of business are known as capital gains. Capital gains can be referred as the amount earned from selling of any fixed assets or property or investment. Capital gains are incurred as the selling price exceeds the purchase price.

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