The Book Value of an Asset Will Equal Its Fair

question 139

Multiple Choice

The book value of an asset will equal its fair value at the date of sale if

• A)a gain on disposal is recorded.
• B)no gain or loss on disposal is recorded.
• C)the plant asset is fully depreciated.
• D)a loss on disposal is recorded.

Understand the effect of technological capabilities on national export and import patterns.

Discuss the impact of global shifts in resources and technology on trade patterns.

Explain the terms of trade and how they reflect comparative advantages between nations.

Analyze how trade affects national standards of living and employment.

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Definitions:

Marginal Tax Rates

The percentage of tax applied to your income for each tax bracket in which you qualify, effectively the rate on the last dollar of income earned.

Tax Revenues

The income that is collected by governments through the imposition of various taxes, which is used to fund public services and policies.

Deadweight Losses

The loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved, leading to a net loss in societal welfare.

Incentives

Motivational factors or mechanisms that encourage individuals or groups to behave in a certain way or to take specific actions.