An Asset with a Cost of $45,000 Was Sold for $9,500

question 93

Multiple Choice

An asset with a cost of $45,000 was sold for $9,500 and resulted in a gain of $2,000.How much was accumulated depreciation at the time of sale?

• A)$39,500
• B)$45,000
• C)$37,500
• D)$35,500

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Definitions:

Structuralist

An advocate or follower of structuralism, a methodology that elements of human culture must be understood by way of their relationship to a broader, overarching system or structure.

Self-Actualization

Fulfilling or actualizing an individual's capabilities and potential, perceived as an innate urge or demand in every person.

Humanism

A philosophical and ethical stance that emphasizes the value and agency of human beings, individually and collectively, often emphasizing human dignity and concerns.

Gestalt

A psychological theory that proposes objects are viewed holistically rather than as a collection of individual parts, emphasizing the mind's innate tendency to organize perceptions.