Question
If a fully depreciated asset with no residual value is retired without receiving any cash on retirement: A) no gain or loss on disposal will
If a fully depreciated asset with no residual value is retired without receiving any cash on retirement:
A) no gain or loss on disposal will be recorded.
B) a gain on disposal will be recorded.
C) a loss on disposal will be recorded.
D) depreciation must be recorded as though the asset were still on the books.
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Sound Investing, Chapter 1 - The Financial Pressure
Authors: Kate Mooney
2nd Edition
0071719237, 9780071719230
