On July 1, 2021, Fleming Company Sells Machinery for $240,000

question 16

Multiple Choice

On July 1, 2021, Fleming Company sells machinery for $240,000.The machinery originally cost $600,000, had an estimated 5-year life and an expected salvage value of $100,000.The Accumulated Depreciation account had a balance of $350,000 on January 1, 2021 using the straight-line method.The gain or loss on disposal is

• A)$40,000 gain.
• B)$10,000 loss.
• C)$20,000 loss.
• D)$10,000 gain.

Understand the concept and implications of spurious relationships in research.

Identify and describe various types of unscientific thinking and their impact on research.

Define and distinguish between key research concepts such as variables, validity, reliability, and control variables.

Recognize the importance and methods of including diverse populations in research samples.