A Fixed Asset with a Cost of $30,000 and Accumulated

question 48

Multiple Choice

A fixed asset with a cost of $30,000 and accumulated depreciation of $28,500 is sold for $3,500. What is the amount of the gain or loss on disposal of the fixed asset?

• A) $2,000 loss
• B) $1,500 loss
• C) $3,500 gain
• D) $2,000 gain

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Definitions:

REM Behavior Disorder

A disorder in which the muscle paralysis that normally occurs during REM sleep is absent or incomplete, and the sleeper is able to act out his or her dreams.

Dreaming

The experience of envisioned images, sounds, or other sensations during sleep, often narrative in nature and involving elements from waking life.

Muscles

Tissues in the body that have the ability to contract, enabling movement of different parts of the body.

Sigmund Freud

An Austrian neurologist known as the founding father of psychoanalysis, a method for treating psychopathology.