Francisco Purchased a Machine on Jan 1, 2019 for $750,000

question 54

Multiple Choice

Francisco purchased a machine on Jan 1, 2019 for $750,000. The machine had an estimated useful life of 5 years and an estimated residual value of $50,000. The company uses straight-line depreciation and records monthly depreciation. The machine was sold on December 31, 2022 for $140,000. What was the gain/loss on disposal of the machine?

• A)$10,000 gain.
• B)$10,000 loss.
• C)$50,000 gain.
• D)$50,000 loss.

Recognize the U.S. position in global trade, including its trade balance and major trading partners.

Understand the concepts of trade surplus, offshoring, and their implications for economies.

Analyze the effects of tariffs, quotas, and other trade barriers on domestic and international markets.

Understand the economic basis and reasons for world trade.

---

Definitions:

ANOVA F Test

An analytical technique that assesses whether there's a statistically significant variation in the averages of three or more separate groups.

Golf Balls

Spherical objects designed with dimples for aerodynamic properties, used primarily in the game of golf.

P-Value

The p-value represents the probability of obtaining test results at least as extreme as those observed during the test, assuming that the null hypothesis is correct.

Psychopathic Personality Inventory

A psychological assessment tool designed to evaluate traits associated with psychopathy.