Tulip Company Purchased Equipment for $58,000 on January 1,2017

question 100

Multiple Choice

Tulip Company purchased equipment for $58,000 on January 1,2017.On December 31,2019,the equipment was sold for $23,000.Accumulated Depreciation as of December 31,2019 was $32,000. Calculate gain or loss on the sale.

• A) $3000 gain
• B) $3000 loss
• C) $32,000 loss
• D) no gain no loss

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Definitions:

Contextual Stimuli

Environmental or situational factors that can influence individuals' perception, behavior, or emotional response in a given context.

Focal Stimuli

Specific factors, situations, or stimuli within the environment that directly influence an individual's response or behavior in a particular context.

Self-Awareness

The conscious knowledge of one’s own character, feelings, motives, and desires, key to personal development and interpersonal relationships.

Adaptive Efforts

Efforts made by individuals or systems to change or modify themselves in response to changing environmental or internal demands to maintain stability.