Dana purchases an automobile for personal use for $27,000 . After using it for three years, Dana converts the automobile to business use when the fair market value is $19,000 . After a few months of business use, Dana sells the automobile for $18,000 . What is the amount of gain or loss recognized on the sale of the automobile?
a. No gain or loss
b. $1,000 loss
c. $8,000 loss
d. $9,000 loss
e. $8,000 gain
b
You might also like to view...
The dominant form of price-oriented promotion is couponing
Indicate whether the statement is true or false
Define organizational buying
What will be an ideal response?
The process of comparing an organization's practices and technologies to those of other companies is known as
A. strategic maneuvering. B. scanning. C. technological auditing. D. situational analysis. E. benchmarking.
In business reports, verbal and visual elements should ________
A) play unrelated roles B) each strive to independently communicate the full message of the report C) be integrated together D) compete for the audience's attention E) be standalone aspects of the report that do not refer to each other