# Gain or loss on disposal

> Gain or loss on disposal — Proceeds from selling or scrapping a long-lived asset less its net book value on that date — presented outside revenue, with the asset's cost and accumulated depreciation removed together.

Source: https://lopifi.com/glossary/gain-or-loss-on-disposal
Part of: Lopifi — US GAAP books on autopilot, checked by a CPA (https://lopifi.com)

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**What is gain or loss on disposal?** In accounting, gain or loss on disposal means proceeds from selling or scrapping a long-lived asset less its net book value on that date — presented outside revenue, with the asset's cost and accumulated depreciation removed together.

## Words this system refuses for it

- revenue
- profit on the asset

- **Category:** Fixed assets & leases
- **Specified in:** [Lexicon](https://lopifi.com/md/docs/domain/11-lexicon)
- **Related:** accumulated-depreciation, net-book-value, depreciation, revenue, asset