Use the Information Below for Oakland Inc

question 48

Multiple Choice

Use the information below for Oakland Inc.for 2013 and 2014 to answer the following question. During 2014,Oakland Inc.sold equipment with a cost of $30,000 and accumulated depreciation of $25,000.A gain of $3,000 was recognized on the sale of the equipment This was the only equipment sale during the year.
What was depreciation expense for 2014?

• A)$ 9,000
• B)$16,000
• C)$21,000
• D)$30,000

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Definitions:

Share Of Wallet

The proportion of a customer's total spending that is captured by a particular business.

Marketing Channels

Pathways through which goods and services flow from producers to consumers, involving intermediaries like wholesalers and retailers.

Drugstores

Retail shops where medications and other healthcare products are sold.

Competitive Pressures

Forces that challenge a company's market position, including competition from other firms, pricing strategies, and innovation demands.