Use the Information Below to Answer the Following Questions

question 44

Multiple Choice

Use the information below to answer the following questions:
Tanner Ltd purchased an item of equipment on the first day of the financial period, 1 July 2010, for $200 000. The equipment was depreciated using the reducing balance method and a rate of 40%. It was sold on 1 July 2012.
-If the machine was sold for $59 000 on 1 July 2011,what was the gain or loss on disposal?

• A) loss of $21 000
• B) loss of $59 000
• C) loss of $61 000
• D) loss of $13 000.

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Definitions:

Business Writing

Professional communication through documents such as reports, emails, proposals, and memos, tailored for business contexts.

Active Voice

Active voice is a sentence construction where the subject of the sentence performs the action expressed by the verb, emphasizing the doer of the action.

Return Policy

A set of rules established by a company regarding how customers can return or exchange purchased items and under what conditions.

Unhappy Customers

Unhappy customers are individuals who are dissatisfied with a product, service, or experience, often leading to complaints or negative feedback.