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

Grasp different perspectives on motivation, including physiological, psychological, and cognitive views.

Differentiate between physiological responses to sexual stimulation across genders.

Relate adaptive thermogenesis and eating disorders to hunger and dietary behavior.

Familiarize with the concept of positive psychology and its focuses.

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Definitions:

Economic Vitality

The health and dynamism of an economy, often assessed by metrics such as growth, employment, and innovation.

Dominant Firm Model

An economic model that describes a market structure in which a single large firm has a significant market share and can influence the market price.

Fringe Firms

Smaller companies in a market that operate alongside the largest or mainstream businesses, often filling niches or offering alternative products.

Price Takers

Firms or individuals in a market who accept the prevailing prices and whose actions have no effect on said prices due to their small market share.