In Chapter 11 bankruptcy only the debtor may propose plans of reorganization

If an asset is disposed of when it is fully depreciated and has no residual value, the business does not need to make a journal entry because the book value is zero

Indicate whether the statement is true or false

Which of the following is not a revenue that is shared under league revenue-sharing systems?

A. Expansion fees when new teams enter the league B. National television revenue C. Gate receipts at individual games D. Luxury seating revenue