If an Asset Is Fully Depreciated and Retired for Proceeds

question 81

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:

Oedipus Complex

A concept in psychoanalytic theory describing a child's feelings of desire for their opposite-sex parent and jealousy and envy toward their same-sex parent.

Erogenous Zones

Areas of the body that experience heightened sensitivity and can lead to sexual arousal when stimulated.

Orally Fixated

describes a person in Freudian psychology who is said to have unresolved conflicts during the oral stage of development, potentially leading to behaviors centered around oral stimulation.

Phallic Stage

In Freudian psychoanalysis, a period of psychosexual development in children around ages 3 to 6, characterized by an attachment to the parent of the opposite sex.