When an Asset Is Purchased (Or Disposed Of) at Any

question 47

True/False

When an asset is purchased (or disposed of) at any time other than the beginning or the end of an accounting period,depreciation is recorded for part of a year so that the year of purchase or the year of disposal is charged with its share of the asset's depreciation.

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Definitions:

Ligamentum Arteriosum

A small ligament that is the remnant of the ductus arteriosus formed within three weeks after birth, connecting the pulmonary artery to the proximal descending aorta.

Fetal Aorta

The primary artery in the fetus that carries oxygenated blood from the heart to various parts of the body, evolving from the embryonic heart.

Axillary Artery

A major blood vessel that carries oxygenated blood to the lateral aspect of the thorax, the axilla (armpit), and the upper limb.

Brachial Artery

A major blood vessel of the upper arm that is the continuation of the axillary artery beyond the lower margin of teres major muscle.