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:

Expected Frequencies

The anticipated count of occurrences in each category of a variable, based on probability distributions or theoretical expectations.

Critical Value

A point on a statistical distribution that represents a threshold beyond which a given effect is significant or non-random.

Groups

Collections of individuals or items that are treated as units in a study or experiment, often to compare outcomes.

Null Hypothesis

The null hypothesis is a statement used in statistics that proposes there is no significant difference or effect, and any observed difference is due to sampling or experimental error.