There Is Neither a Gain nor a Loss on the Sale

question 81

Multiple Choice

There is neither a gain nor a loss on the sale of a depreciable asset for an amount exactly equal to its ____.

• A) acquisition cost
• B) tax book value
• C) opportunity cost
• D) historical cost

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Definitions:

Groupthink

A psychological phenomenon where the desire for harmony or conformity in a group results in an irrational or dysfunctional decision-making outcome.

Concurrence Seeking

The practice of striving for consensus and agreement within a group, sometimes at the expense of critical thinking.

Consensual Validation

is the process by which individuals seek agreement and validation from others for their attitudes, beliefs, or perceptions.

Cohesion

The degree to which members of a group stick together and remain united in the pursuit of common goals.