This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Recaptured depreciation is the portion of the sale price that is below the book value. Indicate ... (Read 133 times)

HudsonKB16

  • Hero Member
  • *****
  • Posts: 535
on: Jul 11, 2018
Recaptured depreciation is the portion of the sale price that is below the book value.
 
  Indicate whether the statement is true or false

Question 2

In case of an existing asset which is depreciable and is used in business and is sold for a price equal to its initial purchase price, the difference between the sales price and its book value is considered as recaptured depreciation and will be
 
  taxed as ordinary income.
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

xiaomengxian

  • Sr. Member
  • ****
  • Posts: 311
Reply #1 on: Jul 11, 2018
Answer to Question 1

FALSE

Answer to Question 2

TRUE


HudsonKB16

  • Member
  • Posts: 535
Reply 2 on: Jul 11, 2018
Gracias!

parshano

  • Member
  • Posts: 333
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

The FDA recognizes 118 routes of administration.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co
Last Judgment of Hunefer by Osiris, from a Book of Going Forth by Day in his tomb at Thebes. Last Judgment of Hunefer by Osiris, from a Book of Going Forth by Day in his tomb at Thebes.
Recommended Portion Sizes per Serving Recommended Portion Sizes per Serving
The electromagnetic spectrum. Ionizing radiation is only a small portion of the electromagnetic ... The electromagnetic spectrum. Ionizing radiation is only a small portion of the electromagnetic ...
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
Video: Polysaccharides

For a complete list of videos, visit our video library