If a Fully Amortized Asset with No Residual Value Is

question 14

Multiple Choice

If a fully amortized asset with no residual value is retired without receiving any cash on retirement:

• A)a gain on disposal will be recorded.
• B)amortization must be recorded as though the asset were still on the books.
• C)a loss on disposal will be recorded.
• D)no gain or loss on disposal will be recorded.

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Definitions:

Hyperventilate

To breathe more rapidly and deeply than is necessary for normal levels of oxygen, which can result in dizziness, light-headedness, or fainting.

Anxiety

An emotion of stress and anxiety caused by an event whose result is not yet known.

Personality Disorder

A class of mental disorders characterized by enduring maladaptive patterns of behavior, cognition, and inner experience.

Binge-Eating Disorder

An eating disorder characterized by recurrent episodes of eating large quantities of food quickly and to the point of discomfort.