Buffey Operates a Delivery Service

question 40

Multiple Choice

Buffey operates a delivery service.She purchased a van in 2015 for $25,000,and she sold it in 2017 for $15,000.Buffey did not deduct any depreciation on the van from 2015 through 2017,although total allowable depreciation on the van would have been $17,000.What is the amount of Buffey 's recognized gain or loss on the sale of the van?

• A)$10,000 loss
• B)$7,000 gain
• C)$8,000 gain
• D)$15,000 gain
• E)$17,000 gain

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Definitions:

Conjunction

In logic and grammar, a connective word or phrase that joins together sentences, phrases, concepts, or elements of the same logical type.

Self-Contradictory

A statement or proposition that contradicts itself or is logically inconsistent.

Inconsistent

Describes a condition of being in conflict, having statements or beliefs that cannot all be true at the same time.

Main Connective

The logical element in a combined statement responsible for defining the truth value of the statement as a whole.