A Fixed Asset with a Cost of $30,000 and Accumulated

question 48

Multiple Choice

A fixed asset with a cost of $30,000 and accumulated depreciation of $28,500 is sold for $3,500. What is the amount of the gain or loss on disposal of the fixed asset?

• A) $2,000 loss
• B) $1,500 loss
• C) $3,500 gain
• D) $2,000 gain

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Definitions:

Door-In-The-Face

A persuasion technique where a large, unreasonable request is made first and, when refused, is followed by a smaller, more reasonable request.

Compliance

The act of conforming to or following rules, guidelines, or instructions, often in a healthcare or legal context.

Foot-In-The-Door

A persuasive technique involving making a small request in order to gain compliance with a larger request later.

Obedience

The act of following orders or directions from authority figures, often studied in psychology.