A Plant Asset with a Cost of $300,000 and Accumulated

question 143

Multiple Choice

A plant asset with a cost of $300,000 and accumulated depreciation of $285,000 is sold for $35,000.What is the amount of the gain or loss on disposal of the plant asset?

• A)$35,000 loss
• B)$20,000 loss
• C)$20,000 gain
• D)$35,000 gain

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Definitions:

Job Satisfaction

The feeling of contentment or pleasure derived from one's occupation, influenced by factors like work environment, pay, and work-life balance.

Pharmaceutical Company

A commercial business licensed to research, develop, market, and/or distribute drugs, most commonly in the context of healthcare.

Emotional Intelligence

The capability to recognize, understand, manage, and reason with emotions in oneself and others, often linked to improved social relationships and leadership skills.

Empathy

Understanding another person’s point of view.