A truck that cost $12,000 and on which $9,000 of accumulated depreciation has been recorded was disposed of on January 1 . Assume that the truck was traded for a similar truck having a price of $13,000, that an $1,800 trade-in was allowed, and that the balance was paid in cash. The amount of the gain or loss recognized on this transaction would be
a. a $1,200 loss.
b. a $1,200 gain.
c. no gain recognized.
d. no loss recognized.
A
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Indicate whether the statement is true or false.
Which of the following statement about the International Monetary Fund (IMF) are central to the observations made by the former World Bank, and Nobel Prize winning, economist Joseph Stiglitz?
a. The IMF is governed by a fair mix of banking and finance representatives of developed and developing economies b. The IMF ensures an excellent level of representation from the world’s poorest nations c. Through its emphasis on the free market economy the IMF helps develop policies that alleviate poverty and indebtedness d. None of the above
The PalmPilot from Palm Inc. was successful because it had a better _________ than Apple’s Newton MessagePad product.
a. External fit b. Internal fit c. Manufacturing fit d. Corporate fit
Sunshine Corp. announced a 2-for-1 stock split of its common stock, which currently is selling for $10 per share. Currently, 200,000 shares of stock are outstanding. What should be the market price per share of the stock immediately after the split is initiated?
A. $10 B. $15 C. $5 D. $20 E. $50