A Machine with a Cost of $100,000 and Accumulated Depreciation

question 17

Multiple Choice

A machine with a cost of $100,000 and accumulated depreciation of $80,000 was sold at a loss of $6,000.What amount of cash was received from the sale?

• A)$26,000
• B)$14,000
• C)$20,000
• D)$94,000

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Definitions:

Southwestern New Mexico

A region in the southwestern part of the state of New Mexico, characterized by its beautiful desert landscapes and rich cultural history.

Real GDP

The calculation of a nation's total economic output accounting for price level changes over time, to represent the real value of all produced goods and services using stable prices.

Annual Growth Rate

The percentage change in the value of a particular economic variable over the course of a year, indicative of the variable's expansion or contraction over time.

Income Rankings

A hierarchy or classification of incomes, from the lowest to the highest.