Katie Sells Her Personal Use Automobile for $12,000

question 213

Multiple Choice

Katie sells her personal use automobile for $12,000. She purchased the car three years ago for $25,000. What is Katie's recognized gain or loss?

• A) $0
• B) $12,000
• C) ($13,000)
• D) ($25,000)
• E) None of the above

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Definitions:

Role Clarity

The degree to which job responsibilities and expectations are clearly understood by employees.

Social Integration

The process through which individuals or groups are incorporated into the social structure and culture of a community or society.

Goal-setting Programs

Structured plans designed to define and achieve specific objectives within a company or team, enhancing motivation and performance.

Individual Goal Setting

The process of establishing specific, measurable, achievable, relevant, and time-bound objectives at the individual level, influencing motivation and performance.