A Company Sells a Long-Lived Asset Which Originally Cost $150,000

question 58

Multiple Choice

A company sells a long-lived asset which originally cost $150,000 for $50,000 on December 31, 2014. The accumulated depreciation account had a balance of $60,000 after the current year's depreciation of $15,000 had been recorded. The company should recognize a

• A) $100,000 loss on disposal.
• B) $40,000 gain on disposal.
• C) $40,000 loss on disposal.
• D) $25,000 loss on disposal.

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Definitions:

Training

The process of teaching or developing in oneself or others, any skills and knowledge or fitness that relate to specific useful competencies.

Borg Scale

A numerical scale that measures perceived exertion or how hard you feel your body is working during physical activity.

Subjective Measure

An assessment based on personal views, feelings, or opinions, rather than objective criteria or measurable data.

Exercise Intensity

The level of effort or exertion that an activity demands, usually classified as low, moderate, or high, affecting energy expenditure and fitness gains.