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.

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Definitions:

Geert Hofstede

A Dutch social psychologist known for his work on the comparison of cultures across nations, particularly for developing the cultural dimensions theory.

Intercultural Competence

The ability to communicate sensitively with people from other cultures and countries, based on an understanding of cultural differences.

Cross-cultural Reliability

The extent to which the findings or measurements of a study can be applied or are consistent across different cultures or cultural contexts.

Personal Space

The distance someone wants between him- or herself and other people in ordinary, nonintimate interchanges.