A Fixed Asset with a Cost of $30,000 and Accumulated

question 22

Multiple Choice

A fixed asset with a cost of $30,000 and accumulated depreciation of $28,500 is sold for $3,500.What is the amount of the gain or loss on disposal of the fixed asset?

• A)$2,000 loss
• B)$2,000 gain
• C)$1,500 loss
• D)$3,500 gain

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Definitions:

Conflict Theorists

Scholars who study social conflicts, focusing on issues of power, inequality, and social change, often within the framework of Marxism.

Symbolic Interactionists

Scholars in sociology who focus on how people use symbols and meanings to communicate and build their social world.

Social Class

A division of a society based on social and economic status, influencing individuals' opportunities and life experiences.

Capitalist Society

A societal system where the means of production are largely or entirely owned by private individuals and operated for profit.