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:

Effective Treatment

Therapeutic interventions or approaches that have proven to result in significant improvements in health or well-being, supported by scientific evidence.

Repressed

Describes thoughts, memories, or desires that have been unconsciously blocked due to being considered unacceptable or traumatic.

Serious Auto Accident

A significant vehicular collision resulting in severe damage, injuries, or fatalities.

Collective Unconscious

A concept in psychology, proposed by Carl Jung, referring to the part of the unconscious mind that is derived from ancestral memory and experience and is common to all humankind.