If an Old Asset Is Sold for Its Depreciated,or Book,value,then

question 136

True/False

If an old asset is sold for its depreciated,or book,value,then no taxes result and there is no tax effect from the sale.

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Definitions:

Personal Risk

refers to the uncertainties facing individuals that may threaten their health, safety, or financial security.

Indefinitely

An undefined period of time, with no set end date or limitation.

Assets

Economic resources held by an enterprise, capable of delivering future gains.

Accounts Receivable

Money owed to a business by its customers for goods or services delivered or used but not yet paid for.