A fixed asset with a cost of $30,000 and accumulated depreciation of $28,500 is sold for $3,500. What is the amount of the gain or loss on disposal of the fixed asset?
A) $2,000 loss
B) $1,500 loss
C) $3,500 gain
D) $2,000 gain
D
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Kathy's property is landlocked. The only possible route to her property crosses George's farm. Which of the following property interests provides Kathy the right to use George's property?
A) conditional estate B) easement by necessity C) easement by prescription D) leasehold interest
When analyzing data, first look at each piece alone, then look at each in combination with other data, and finally synthesize all your findings
Indicate whether the statement is true or false
To which of the following contracts does the Sale of Good Act not apply?
A) The purchase of a car. B) The leasing of computer equipment C) The purchase of a re-conditioned refrigerator D) The installation of a deck on a house E) Both B and D
International law is the law of a foreign nation and varies from country to country
Indicate whether the statement is true or false