Corey Sales Sold Its Old Office Furniture for $400

question 157

Multiple Choice

Corey Sales sold its old office furniture for $400.The original cost was $8,000,and at the time of sale,it had accumulated depreciation of $7,000.What was the effect of the transaction?

• A) Gain of $600
• B) Gain of $400
• C) Loss of $1,600
• D) Loss of $600

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Definitions:

Anosmia

A loss of the sense of smell.

Tinnitus

A medical condition characterized by the perception of noise or ringing in the ears when no external sound is present.

Sensory Interaction

The principle that one sense can influence or interact with another, enhancing or diminishing the perception of a stimulus.

Vestibular Sense

The sensory system responsible for providing the brain with information about motion, head position, and spatial orientation, contributing to balance and movement coordination.