On 31 May 2018 a Photocopying Machine with a Cost

question 7

Multiple Choice

On 31 May 2018 a photocopying machine with a cost of $12 000 has accumulated depreciation written off of $10 000. If the machine is sold for $1 500 on 1 June 2018 what will be the net effect of the sale on the income statement?

• A) $500 loss
• B) $500 profit
• C) $1 500 loss
• D) $1 500 profit

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Definitions:

Lawrence Kohlberg

A psychologist best known for his theory of stages of moral development.

Stages

Distinct phases or steps in a process or development, often used to describe progressive milestones in personal growth, project management, or disease progression.

Organizational Culture

A compilation of joint attitudes, objectives, practices, and values that embodies an institution or organization.

Ethical Behavior

Acting in ways consistent with societal standards of right and wrong.