A Trucking Company Sold Its Fleet of Trucks for $55,000

question 78

Multiple Choice

A trucking company sold its fleet of trucks for $55,000.The trucks had originally cost $1,410,000 and had accumulated depreciation of $1,269,000 through the date of disposal.What gain or loss did the trucking company record when it sold the fleet of trucks?

• A)Gain of $86,000.
• B)Gain of $55,000.
• C)Loss of $55,000.
• D)Loss of $86,000.

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Definitions:

Nonunionized Workers

Employees who are not members of a labor union and therefore are not covered by collective bargaining agreements.

Unionized Workers

Employees who are members of a labor union, which represents their interests in negotiations with employers regarding wages, hours, and other working conditions.

Higher Wages

Compensation levels that exceed the minimum or average pay for a given role or industry, often used to attract or retain employees.

Sectoral Level

Pertains to the division or categorization of the economy or labor market into sectors based on economic activities.