A Truck That Cost $250 000 and Had Accumulated Depreciation

question 24

Multiple Choice

A truck that cost $250 000 and had accumulated depreciation of $180 000 was sold for $50 000 cash in June 2020. This transaction will:

• A) increase assets and decrease profits.
• B) increase assets and increase profits.
• C) decrease assets and decrease profits.
• D) decrease assets and increase profits.

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Definitions:

Interest Inventories

Psychological assessment tools designed to help individuals identify their interests and preferences, often used in career planning and counseling.

Psychodynamic Issues

Refers to problems or disorders that arise from internal psychological conflicts and unconscious motives based on psychodynamic theories.

Environmental Concerns

Issues related to the protection of the natural environment and the impact of human activity on ecological health.

COPS

A vocational guidance tool that stands for Career Occupational Preference System, used to help individuals identify their interests and potential career paths.