Use the Following Information for Questions

question 135

Multiple Choice

Use the following information for questions.
Equipment that cost $81,000 and has accumulated depreciation of $30,000 is exchanged for equipment with a fair value of $48,000 and $12,000 cash is received.The exchange has commercial substance.
-The gain to be recognized from the exchange is

• A)$9,000 gain.
• B)$6,000 gain.
• C)$12,000 gain.
• D)$21,000 gain.

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Definitions:

Deceiving Patients

The unethical practice of misleading patients about their health status, treatment options, or the nature of their condition.

Affordable Care Act

A comprehensive health care reform law enacted in March 2010 in the United States, also known as Obamacare, aimed at expanding health insurance coverage.

Healthcare Spending

The total expenditure on healthcare services and products within a country or region, including personal health care and public health services.

Principle of Totality

A concept in bioethics and moral theology stating that individual components of a being can be sacrificed or altered for the well-being or survival of the whole organism.