If a Plant Asset Is Retired Before It Is Fully

question 291

Multiple Choice

If a plant asset is retired before it is fully depreciated and no salvage or scrap value is received

• A) a gain on disposal will be recorded.
• B) phantom depreciation must 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:

Erythrocytes

Red blood cells that carry oxygen from the lungs to the body tissues and carbon dioxide as a waste product away from tissues back to the lungs.

High Lipid

A condition characterized by an elevated level of lipids in the blood, which can increase the risk of cardiovascular diseases.

Chyle

A milky bodily fluid consisting of lymph and emulsified fats, absorbed from the intestines during digestion.

Lymphatic Vessels

Tubes that carry lymph, a clear fluid that helps the body rid itself of toxins, waste, and other unwanted materials.