Aspen Corp

question 30

Multiple Choice

Aspen Corp. sold an asset with a book value of $58,000 for $31,000 cash. Which of the following is a TRUE statement?

• A)Loss on sale equals $31,000 and Cash inflow equals $31,000.
• B)Loss on sale equals $58,000 and Cash inflow equals $58,000.
• C)Loss on sale equals $27,000 and Cash inflow equals $31,000.
• D)Loss on sale equals $31,000 and Cash inflow equals $27,000.

---

Definitions:

Actionable

Capable of being acted upon; information or advice that is clear and useful for guiding decisions or actions.

Inspirational

Serving to motivate, encourage, and stimulate someone or something, often leading to creative ideas or actions.

Long Term

Pertaining to an extended period of time, typically involving planning or investment that spans several years.

Meaningful

Significance or value that is profound, having a deep impact or relevance.