An Asset Was Purchased for $12,000

question 139

Multiple Choice

An asset was purchased for $12,000.The asset's estimated useful life was 5 years,and its residual value was $2,000.Straight-line depreciation was used.
-How much gain or loss is reported if the asset is sold for $3,000 at the end of the fifth year?

• A) $1,000 gain
• B) $2,000 loss
• C) No gain or loss
• D) $1,000 loss

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Definitions:

Holistic Nurse

A nursing practice that addresses the patient's physical, mental, emotional, spiritual, and social needs, aiming to treat the person as a whole.

Role Modeling

The process of influencing others by serving as an example of how to behave or how to perform certain tasks or roles.

Healthy Behaviors

Actions undertaken by individuals to maintain or improve their health, such as exercising, eating well, and avoiding harmful habits.

Therapeutic Touch (TT)

A holistic approach to healing where practitioners use their hands to direct energy fields around the body to promote health.