A Company Purchased a Machine for $100,000

question 173

Multiple Choice

A company purchased a machine for $100,000.The accumulated depreciation on the machine is now $100,000.Which of the following statements is TRUE regarding the disposal of the machine for no cash proceeds?

• A)The cost of the asset,but not its accumulated depreciation,must be removed from the books.
• B)A gain or loss on the disposal can occur.
• C)The journal entry to record the disposal will decrease net assets.
• D)There will be no gain or loss on the disposal.

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Definitions:

Hegemonic Masculinity

A concept used in gender studies to describe the practice that guarantees the dominant social position of men, and the subordinate social position of women.

Intersexed

A term used to describe individuals born with reproductive or sexual anatomy that doesn’t fit typical definitions of male or female.

Hermaphrodites

Organisms that possess both male and female reproductive organs, allowing them to perform both reproductive roles.

Hegemonic Masculinity

A concept that explains the dominance of certain cultural norms of masculinity over others, making them appear natural and enforcing a gender hierarchy.