Corey Sales Sold Its Old Office Furniture for $1,100

question 85

Multiple Choice

Corey Sales sold its old office furniture for $1,100.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 $100
• B) Gain of $400
• C) Loss of $1,600
• D) Loss of $600

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Definitions:

REM Sleep

A phase of sleep characterized by rapid eye movements, more dreaming and bodily movement, and faster pulse and breathing.

Circadian Rhythms

Biological processes that occur in a regular, 24-hour cycle, affecting various bodily functions including sleep, hormone production, and metabolism.

Relaxing Activity

Any activity designed to reduce stress and promote a sense of peace and tranquility, enhancing mental and physical well-being.

Mental Arithmetic

Calculation and manipulation of numbers in one's mind without the use of physical or mechanical aids.