On July 1, 2014, Dillman Kennels Sells Equipment for $66,000

question 142

Multiple Choice

On July 1, 2014, Dillman Kennels sells equipment for $66,000. The equipment originally cost $180,000, had an estimated 5-year life and an expected salvage value of $30,000. The Accumulated Depreciation account had a balance of $105,000 on January 1, 2014, using the straight-line method. The gain or loss on disposal is

• A) $9,000 gain.
• B) $6,000 loss.
• C) $9,000 loss.
• D) $6,000 gain.

Differentiate between various types of problems and decisions, including structured, unstructured, crisis, performance opportunities, and deficiencies.

Comprehend the decision-making process, including problem identification, alternative solution generation, and solution evaluation.

Acknowledge the challenges and environments in decision making, such as certainty, risk, and uncertainty.

Appreciate the roles of systematic and intuitive thinking in problem-solving.

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Definitions:

Affective Forecasting

Predicting one’s own emotional response to upcoming events.

Affective Forecasting

The process by which individuals predict their future emotional states in response to events or decisions.

Judgment and Reasoning

The cognitive processes involved in forming opinions, making decisions, and solving problems.

Educational Programs

Structured sets of learning experiences or activities intended to achieve a particular set of competencies or educational objectives.