Which of the following statements determine whether your company can use the standard mileage rate for its vehicles as a deduction on its tax return? SELECT ALL THAT APPLLY

A. The vehicle has been expensed

B. The vehicle has been depreciated

C. The vehicle is over 5 years old

D. The vehicle will be sold this year

E. The vehicle is part of a fleet of vans

2. Bravo Company furnace, which has a current book value of $40,000 (Original Cost less accumulated depreciation), has been destroyed. If the insurance company pays Bravo$45,000 which of the following transactions should be recorded? select BEST OPTION

A-Debit Cash $45000; Credit Equipment/ Furnace $45000.

B- Debit Cash $40000; debit Equipment/ Furnace $40000.

C-Credit Gain on Disposition of Equipment/ Furnace $45000; Debit cash $45000.

D-debit Equipment/ Furnace $5000; Credit Equipment/ Furnace $40000; debit Cash $45000.

E-Credit Gain on Disposition of Equipment/ Furnace $5000; Credit Equipment/ Furnace $40000; Debit Cash $45000.