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:

Somatic

Pertaining to or affecting the body, especially as distinct from the mind or psyche.

Neurotransmitters

Chemical substances released at the end of a nerve fiber by the arrival of a nerve impulse and, by diffusing across the synapse or junction, cause the transfer of the impulse to another nerve fiber, a muscle fiber, or some other structure.

Acetylcholine

One of the major neurotransmitters of the autonomic nervous system.

Norepinephrine

A neurotransmitter and hormone involved in the body's fight or flight response, affecting mood, focus, and alertness.