If an Asset Is Fully Depreciated and Retired for Proceeds

question 136

Multiple Choice

If an asset is fully depreciated and retired for proceeds equal to its residual value

• A)a gain on disposal will be recorded.
• B)depreciation must continue to be taken as though the asset were still on the books.
• C)a loss on disposal will be recorded.
• D)no gain or loss on disposal will be recorded.

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Definitions:

Postmenopause

Describes the period in a woman's life that occurs after her menopause, marked by a decrease in hormones such as estrogen and progesterone.

Postconventional Morality

A stage of moral development in which individuals make ethical decisions based on internal principles and values, beyond societal norms.

Conventional Morality

A stage in Lawrence Kohlberg's theory of moral development during which individuals' moral reasoning is based on conforming to social rules, laws, and norms to maintain societal order.

Preconventional Morality

The first level in Kohlberg's theory of moral development, where individuals' moral reasoning is based primarily on the consequences of their actions and external rewards or punishments.