If a Company Sells a Fixed Asset for an Amount

question 16

True/False

If a company sells a fixed asset for an amount which is less than its book value, a gain must be recognized.

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Definitions:

Metaneeds

Higher-level psychological needs described by Abraham Maslow, such as self-actualization, beyond basic physiological and safety needs.

Deficiency Needs

Basic requirements for physical and psychological well-being, as defined by Abraham Maslow, including needs for safety, love, and esteem, which must be met before an individual can achieve self-actualization.

Self-actualized Persons

Individuals who have realized and fulfilled their potential, as described in Maslow's hierarchy of needs, achieving personal growth and self-fulfillment.

Personality Theory

A framework used to analyze and understand individual differences in personality traits and behaviors, explaining how personalities are formed, developed, and influenced.