If an Asset Is Discarded When It Is Fully Depreciated

question 119

True/False

If an asset is discarded when it is fully depreciated and has no residual value,the business does not need to make a journal entry because the book value is zero.

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Definitions:

Hypothetical Questions

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SOAP Charting

A method of documentation employed by healthcare providers to write out notes in a patient's chart, adhering to a structure that includes Subjective, Objective, Assessment, and Plan.

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Information about the patient’s condition that is readily apparent or measurable.