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:

Program Consultation

A service provided to assist organizations in developing, implementing, and evaluating programs, often involving expertise in a specific area of practice.

Agency's Service

The range of services or interventions provided by an organization or agency to meet the needs of its clients or constituents.

Modeling

A social learning theory technique where individuals learn by observing and mimicking others' behavior.

Assertiveness Training

Educational programs or sessions aimed at helping individuals communicate their needs, desires, and boundaries in a respectful and confident manner without aggression.