An Asset Which Costs $28,800 and Has Accumulated Depreciation of $6,000

question 86

Multiple Choice

An asset which costs $28,800 and has accumulated depreciation of $6,000 is sold for $21,600.What amount of gain or loss will be recognized when the asset is sold?

• A)A gain of $1,200.
• B)A loss of $1,200.
• C)A loss of $7,200.
• D)A gain of $7,200.

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Definitions:

Normally Distributed

Describes a statistical distribution that is symmetric around the mean, showing that data near the mean are more frequent in occurrence.

F-distribution

A probability distribution used in analysis of variance (ANOVA), depicting ratios of variances to assess the significance of group differences.

Kruskal-Wallis Test

A nonparametric method for testing whether samples originate from the same distribution, used when the assumptions of the ANOVA are not met.

Critical Value

A point on the scale of a statistical distribution that is used to determine the boundary for rejecting the null hypothesis in hypothesis testing.