An Asset That Cost $24,000 and Has Accumulated Depreciation of $18,000

question 88

Multiple Choice

An asset that cost $24,000 and has accumulated depreciation of $18,000 is sold for $5,200.The entry to record the sale is:

• A) Accumulated Depreciation- Asset 6,000
• Asset 6,000
• B) Cash 5,200
• Accumulated Depreciation- Asset 18,000
• Loss on Sale of Asset 800
• Asset 24,000
• C) Loss on Sale of Asset 18,800
• Asset 18,800
• D) Asset 18,000
• Accumulated Depreciation- Asset 18,000

Comprehend the rationale behind why Corporate Social Responsibility (CSR) is beneficial for business.

Identify the key features and goals of venture philanthropy and understand what venture philanthropists seek in their investments.

Recognize the primary attributes of stakeholders in social entrepreneurship and understand their potential impact on social ventures.

Distinguish between different types of stakeholders and their roles and capacities to influence social entrepreneurship projects.

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Definitions:

Oligopolistic Industry

A market structure characterized by a small number of firms whose decisions affect and are affected by each other, leading to strategic behavior and interdependence.

Optimal Strategy

The best course of action that maximizes benefits or minimizes costs under given circumstances, often used in decision-making and game theory.

Anticipate

To expect or predict something based on current trends or information.

Oligopoly

A market structure characterized by a small number of firms whose decisions about prices and output mutually influence one another.