Brown Ltd Purchased a Machine on the First Day of the Financial

question 8

Multiple Choice

Brown Ltd purchased a machine on the first day of the financial period, 1 July 2018, for $100 000. The machine was depreciated using the reducing balance method and a rate of 20 per cent. It was sold on 1 July 2019. If the machine was sold for $60 000, what was the gain or loss on disposal?

• A) Loss of $20 000
• B) Loss of $40 000
• C) Gain of $60 000
• D) Gain of $20 000

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Democracy

A system of government where the citizens exercise power by voting.

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African American men who were not enslaved, focusing on their lives, rights, and contributions to society during various historical periods.