Equipment Was Acquired for $208,000 and Has Accumulated Depreciation of $94,000.The

question 167

Multiple Choice

Equipment was acquired for $208,000 and has accumulated depreciation of $94,000.The business exchanges this equipment for new equipment.The new equipment has a market value of $310,000 and the business pays $60,000 cash.Assume the exchange has commercial substance.The exchange results in ________.

• A)loss $136,000
• B)gain $196,000
• C)gain $136,000
• D)loss $196,000

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Definitions:

Normal Distribution

A statistical function that represents a bell-shaped curve where most occurrences take place near the mean or average value.

Standard Deviation

A measure in statistics that quantifies the amount of variation or dispersion of a set of values from the mean (average) of the set.

Battery Life

The duration a battery can continue to provide power to a device before it needs recharging or replacement.

Creative Approach

Utilizing imagination or unconventional thinking to solve problems or generate original ideas.