Nicklaus Company Has Decided to Sell One of Its Old

question 12

Multiple Choice

Nicklaus Company has decided to sell one of its old machines on June 30, 2011.The machine was purchased for $120,000 on January 1, 2007, and was depreciated on a straight-line basis for 10 years with no residual value.If the machine was sold for $39,000, what was the amount of the gain or loss recorded at the time of the sale?

• A)$27,000.
• B)$81,000.
• C)$33,000.
• D)$69,000.

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Definitions:

Post-sale Dissonance

A psychological state of unease or anxiety that consumers may experience after making a purchase, often due to conflicting thoughts about the decision.

Theater Productions

are live performances presented on stage by actors and crew to an audience, encompassing plays, musicals, and other forms of dramatic art.

Stage-rigging System

Equipment and processes used in theaters and entertainment venues to mechanically lift and manipulate stage scenery, lights, and effects.

Continuous-yes Close

A sales technique in which the salesperson leads the customer through a series of questions designed to elicit affirmative answers, culminating in agreement to the sale.