Bach Company Sold an Asset with a Book Value of $54,000

question 90

Multiple Choice

Bach Company sold an asset with a book value of $54,000 for $90,000 cash. Which of the following is a TRUE statement?

• A)Gain on sale equals $90,000 and Cash inflow equals $90,000.
• B)Gain on sale equals $54,000 and Cash inflow equals $54,000.
• C)Gain on sale equals $36,000 and Cash inflow equals $90,000.
• D)Gain on sale equals $90,000 and Cash inflow equals $36,000.

---

Definitions:

Solo Practices

Business entities where a single professional, especially in fields like law or medicine, operates independently rather than as part of a group or partnership.

Multi-provider Clinics

Healthcare facilities offering medical services from various specialists under one roof, enhancing collaborative care.

Running a Business

Involves overseeing the operations, managing personnel, and making strategic decisions to ensure the profitability and growth of a company.

Administrative Skill

The abilities and expertise necessary for managing tasks, projects, and operations efficiently in a business or organization setting.