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:

Automobile Insurance Costs

The expenses related to insuring a car against accidents, theft, and other risks.

Economies of Scale

Cost advantages reaped by companies when production becomes efficient, as the cost per unit of output decreases with increasing scale.

Long-Run Average Cost Curve

A graphical representation that shows the lowest average cost at which a firm can produce any given level of output in the long run, when all inputs are variable.

Small Firms

Businesses that operate on a smaller scale than larger enterprises, often characterized by fewer employees and lower income or revenue.