A Company Had a Bulldozer Destroyed by Fire

question 113

Multiple Choice

A company had a bulldozer destroyed by fire.The bulldozer originally cost $125,000.The accumulated depreciation on it was $60,000.The proceeds from the insurance company were $90,000.The company should recognize:

• A)A loss of $25,000.
• B)A gain of $25,000.
• C)A loss of $65,000.
• D)A gain of $65,000.
• E)A gain of $90,000.

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Definitions:

Conceptual Abilities

The capacity to understand complex ideas, identify patterns, and solve problems through abstract thinking.

Management Skills

Abilities required to effectively direct, control, and plan resources and operations within an organization.

Training

The act of teaching or developing in oneself or others, any skills and knowledge that relate to specific useful competencies.

Experiences

The knowledge or practical wisdom gained from direct participation in events or activities, contributing to personal or professional development.