A Fixed Asset with a Cost of $41,000 and Accumulated

question 113

Multiple Choice

A fixed asset with a cost of $41,000 and accumulated depreciation of $36,500 is traded for a similar asset priced at $60,000. Assuming a trade-in allowance of $3,000, the recognized loss on the trade is

• A) $3,000
• B) $4,500
• C) $500
• D) $1,500

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Definitions:

Signaling

The process by which cells communicate with each other through the exchange of chemical or physical signals.

Tumor Suppressor Gene

A gene (also known as an anti-oncogene) whose normal role is to block cell division in response to certain growth-inhibiting factors; when mutated, may contribute to the formation of a cancer cell. Compare with oncogene.

Familial Breast Cancer

A type of breast cancer that occurs more frequently in members of the same family, often due to genetic predispositions.

Maternal Effect Genes

Genes whose expression in a mother affects the phenotype of her offspring, often independent of the offspring's own genotype.