Brandy Enterprises Discarded a Computer That Was Fully Depreciated and Had

question 24

Multiple Choice

Brandy Enterprises discarded a computer that was fully depreciated and had no residual value. As a result of this transaction, Brandy will _________.

• A) report a loss equal to the historical cost of the computer.
• B) debit the Computer account and credit the Accumulated Depreciation - Computer account.
• C) debit the Accumulated Depreciation - Computer account; debit Loss on Disposal of Computer account, and credit the Computer account.
• D) zero out the Computer and Accumulated Depreciation - Computer accounts.

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Definitions:

Type A Personality

A personality type characterized by high levels of competitiveness, self-imposed stress, impatience, and urgency, often associated with a higher risk of heart disease.

Anger

A strong feeling of displeasure or hostility that often arises from a perceived wrong or injustice.

Friedman

Refers to Milton Friedman, an American economist known for his research in macroeconomics, consumption analysis, and advocacy of free-market capitalism.

Type A Men

Individuals characterized by a highly competitive, aggressive, and impatient behavior pattern.