Assume That a Machine with a Cost of $9000 Has

question 5

Multiple Choice

Assume that a machine with a cost of $9000 has accumulated depreciation of $4800 on the date of its disposal. If it was traded-in for $4000 on a new machine and the balance of $2000 was paid in cash what is the profit or loss on disposal of the old machine? (Ignore GST.)

• A) $2000 loss
• B) $200 loss
• C) $800 gain
• D) $3800 loss

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Definitions:

Protein

Essential nutrients required by the body for growth, repair, and maintenance of cells.

Trypsin

A pancreatic enzyme that digests proteins.

Hydrochloric Acid

A strong, corrosive acid found in the stomach that aids in digestion by breaking down foods and killing pathogens.

Parietal Cells

Stomach cells that secrete hydrochloric acid, which is necessary to convert pepsinogen to pepsin. Parietal cells also secrete intrinsic factor, which is necessary for vitamin B12 absorption.