If a Depreciable Asset Is Sold

question 159

Multiple Choice

If a depreciable asset is sold:

• A)there is no tax consequence.
• B)the sale price minus the book value is added to the firm's income and is taxed at the firm's long term capital gain tax rate.
• C)the sale price is added to the firm's income and is taxed at the firm's marginal tax rate.
• D)the sale price minus the book value is added to the firm's income and is taxed at the firm's marginal tax rate.
• E)the sale price minus the book value is added to the firm's income and is taxed at the firm's average tax rate.

---

Definitions:

March on Washington

A significant political rally that took place in Washington, D.C., in 1963, advocating for civil and economic rights for African Americans.

I Have a Dream

A famous speech delivered by Martin Luther King Jr. advocating for civil rights and an end to racism in the United States.

Unauthorized Immigrants

Individuals who enter or reside in a country without the legal permission of that country, often seeking work, safety, or better opportunities.

United States

A country in North America consisting of 50 states, a federal district, five major self-governing territories, and various possessions, known for its democratic government and diverse population.