On January 1, 2011, Gecho Corporation Purchased Computer Equipment for $23,000

question 116

Multiple Choice

On January 1, 2011, Gecho Corporation purchased computer equipment for $23,000. The equipment has an estimated useful life of 4 years and a salvage value of $400. Given this information, if Gecho uses the double-declining-balance method of depreciation and sells the equipment of December 31, 2012, for $250, it will have a

• A) $250 gain
• B) $3,124 gain
• C) $3,600 loss
• D) $5,500 loss

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Definitions:

Negative Affectivity

Propensity to view the world, including oneself and other people, in a negative light.

Type A Behaviour

A personality trait characterized by high levels of competitiveness, self-imposed stress, impatience, and a constant sense of urgency.

Self-Esteem

An individual's subjective evaluation of their own worth and capabilities.

Intergroup Bias

The tendency to favor one's own group over other groups in terms of judgment, preference, or treatment.