Use the Information Below for Shorter Inc

question 4

Multiple Choice

Use the information below for Shorter Inc.for 2015 and 2016 to answer the following question. During 2016, Shorter Inc.sold equipment with a cost of $30,000 and accumulated depreciation of $25,000.A gain of $3,000 was recognized on the sale of the equipment This was the only equipment sale during the year.
Assume that all purchases of equipment were paid with cash.How much cash was paid by Shorter for the purchase of equipment during 2016?

• A)$ 7,000
• B)$30,000
• C)$37,000
• D)$72,000

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Definitions:

Performance Success

The degree to which an individual or organization achieves its objectives and meets expected standards of excellence.

Crisis

A critical or tumultuous situation that requires a decisive response.

Performance Norms

The accepted standards or expectations of performance within a group or organization.

Team Cohesiveness

the strength of the relationships and the level of commitment among team members towards their common goals.