On December 31, Strike Company Has Decided to Sell One

question 21

Multiple Choice

On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the equipment was $215,000 with an accumulated depreciation of $185,000. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $30,000. What is the amount of the gain or loss on this transaction?

• A) Gain of $30,000
• B) Loss of $30,000
• C) No gain or loss
• D) Cannot be determined

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Definitions:

Biased Sample

A sample that does not accurately reflect the population from which it was drawn, often due to overrepresentation or underrepresentation of certain groups.

Target Population

The entire group of individuals or instances about whom the research is focused and to whom the results of the study are intended to be generalized.

Systematic Difference

Differences between groups or conditions that are consistent, predictable, and attributable to a specific cause or intervention in a study.

Population

In research, population refers to the entire group of individuals or instances about whom the study is making conclusions, from which a sample can be drawn for analysis.