A Truck Costing $14,000 and on Which $12,000 of Accumulated

question 37

Multiple Choice

A truck costing $14,000 and on which $12,000 of accumulated depreciation has been recorded was disposed of for $3,000 cash. The entry to record this event would include a

• A) loss on disposal of $1,000.
• B) gain on disposal of $1,000.
• C) credit to the Truck account for $3,000.
• D) credit to Accumulated Depreciation for $12,000.

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Definitions:

Brazilian Factory Worker

An individual employed in the manufacturing sector in Brazil, often dealing with the challenges of labor conditions and economic factors.

American Factory Worker

An employee working within the manufacturing sector of the United States, often associated with manual labor and industrial production.

Innate Sense

An inherent or natural ability, perception, or understanding.

Adam Smith

An 18th-century Scottish economist and philosopher, best known for his theory of the benefits of a free market economy.