If a Fixed Asset with an Original Cost of $18,000

question 27

Multiple Choice

If a fixed asset with an original cost of $18,000 and accumulated depreciation of $2,000 is sold for $15,000, the company must:

• A) recognize a loss on the income statement under other expenses.
• B) recognize a loss on the income statement under operating expenses.
• C) recognize a gain on the income statement under other revenues.
• D) recognize a gain on the income statement under revenues.

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Definitions:

Environment

The surrounding conditions, influences, or forces which affect the life, behavior, and development of individuals or populations.

Wellness

A holistic state of well-being encompassing physical, mental, and social health, not merely the absence of disease or infirmity.

Nursing

A healthcare profession focused on the care of individuals, families, and communities so they may attain, maintain, or recover optimal health and quality of life.

Community Variables

Factors that influence the characteristics, behaviors, health, and well-being of members within a community.