Company X is going to retire equipment that is fully depreciated with no residual value. The equipment will simply be disposed of, not sold.

Which of the following statements is false?

a. Total assets will not change as a result of this transaction.
b. Net income will not be impacted as a result of this transaction.
c. This transaction will not impact cash flow.
d. All of the above statements are true.

Answer :

Answer:

d. All of the above statements are true.

Explanation:

Total assets will not change as a result of this transaction, the net income will not be impacted as a result of this transaction and this transaction will not impact cash flow.

Other Questions