Use the Following Information to Answer Questions

question 30

Multiple Choice

Use the following information to answer questions
Rapid City traded in a used pickup for a new pickup with a sticker price of $44,000.The old truck had a historical cost of $40,000, accumulated depreciation of $16,000, and a fair value of $27,000.The dealer took the old truck and $13,000 cash for the new truck.
-What is the amount of gain/loss that should be reported in the General Fund financial statements?

• A)$0.
• B)$3,000 gain.
• C)$3,000 loss.
• D)$7,000 gain.

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Definitions:

Respite Care

Temporary care provided to patients or clients to give their primary caregivers a break.

Impaired Verbal Communication

Difficulty in expressing thoughts and feelings through spoken language, often resulting from neurological or cognitive issues.

Acute Confusion

A sudden onset of disorientation and inability to focus or maintain attention, often temporary and reversible.

Enhanced Decision Making

The improvement of decision-making abilities through specific strategies or tools, aiming for better outcomes.