Question

How does knowing the difference between the gain and the loss tell you the overall result?

Answer 1

Unlike gains, there are is no outflow of money for taking a loss; it simply means that the sale of an asset wasn't greater than the original cost.

I found this very interesting!

Answer 2

Answer:

Losses are similar to gains in that both are recognized on the income statement only when an asset is sold and a loss is taken. ... Unlike gains, there is no outflow of money for taking a loss; it simply means that the sale of an asset wasn't greater than the original cost. (got the answer from google hehe)

Step-by-step explanation: