An Asset's Carrying Amount Is $18,000 on June 30, Year

question 73

Multiple Choice

An asset's carrying amount is $18,000 on June 30, Year 6. The asset is being depreciated at an annual rate of $3,000 on the straight-line method. Assuming the asset is sold on December 31, Year 7 for $15,000, the company should record:

• A) A loss on sale of $1,500.
• B) A gain on sale of $1,500.
• C) Neither a gain nor a loss is recognized on this type of transaction.
• D) A gain on sale of $3,000.
• E) A loss on sale of $3,000.

Comprehend the principles of data collection and its application in group work settings.

Recognize the importance and methods of creating simulations and their relevance in assessing group members.

Learn the procedures for time and event recording in observing behaviors within a group.

Acquire knowledge about dysfunctional roles in group dynamics and strategies for helping members.

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