Nicklaus Company Has Decided to Sell One of Its Old

question 216

Multiple Choice

Nicklaus Company has decided to sell one of its old machines on June 30, 2015. The machine was purchased for $200,000 on January 1, 2011, and was depreciated on a straight-line basis for 10 years with no salvage value. If the machine was sold for $65,000, what was the amount of the gain or loss recorded at the time of the sale?

• A)$45,000.
• B)$135,000.
• C)$55,000.
• D)$115,000.

Simplify polynomial and rational expressions by collecting like terms.

Calculate simple interest and compound interest in financial mathematics.

Understand and simplify expressions involving imaginary numbers.

Calculate the value of algebraic expressions at specific points.

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Definitions:

Exchange Rate

The value of one currency for the purpose of conversion to another. It indicates how much of one currency can be exchanged for another currency.

Risk

Risk refers to the potential of losing some or all of an investment due to various factors such as economic changes, market volatility, or company performance.

Business Transaction

An economic event or activity that changes a company's financial position or earnings, often involving exchanges of value.

Gain

Gain refers to an increase in the value of an investment or asset, resulting in a financial profit when the asset is sold or valued.