An Asset Was Purchased for $33,000 on January 1,2019

question 154

Multiple Choice

An asset was purchased for $33,000 on January 1,2019.The asset's estimated useful life was five years,and its residual value was $4000.The straight-line method of depreciation was used.Calculate the gain or loss if the asset is sold for $26,000 on December 31,2019,the last day of the accounting period.

• A) $600 gain
• B) $1200 loss
• C) $1200 gain
• D) no gain or no loss

Understand the concepts and applications of the Four-Drive Theory in organizations.

Comprehend the mechanisms and importance of Expectancy Theory in motivating employees.

Grasp the principles of Learned Needs Theory and its implications for leadership and motivation.

Recognize the significance of accurate job performance measurement in enhancing employee motivation.

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Definitions:

Material Tool

A physical object used by humans to perform tasks more efficiently, extending the capabilities of the body in manipulating the environment.

Symbolic Tool

A concept representing any sign, symbol, language, or tool that carries meaning and is used for communication or thought.

Cultural Knowledge

The body of information, beliefs, traditions, and norms that is shared within a culture and passed down through generations.

Abstract Aspect

Refers to the theoretical or intangible features of a concept or subject.