Assuming That an Asset Has Been Fully Depreciated According to Its

question 72

Multiple Choice

Assuming that an asset has been fully depreciated according to its straight line CCA class, which of the following statements is correct concerning the value of the asset:

• A)its market value is zero.
• B)its UCC value is zero.
• C)its book value is the current market value.
• D)it has neither book value nor market value.

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Definitions:

Cyber-Jurisdiction

The authority of a court to hear a case based on Internet-related transactions.

Stream of Commerce

The concept that goods are part of a continuous process from production to sale, affecting interstate and international trade laws.

Appellate Jurisdiction

The power of a court to review a case for errors.

U.S. Constitution

The supreme law of the United States, establishing the framework of national government and the fundamental rights and freedoms of Americans.