A company sold equipment that originally cost $180,000 for $144,000 cash. The accumulated depreciation on the equipment was $36,000. The company should recognize a:
A. $36,000 loss.
B. $18,000 loss.
C. $0 gain or loss.
D. $144,000 gain.
E. $18,000 gain.
Answer: C
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Which of the following organizations has primary responsibility for developing and issuing rules on accounting practice?
a. FASB b. GAAP c. IRS d. AICPA
Which force for change can be described as when an employee suggests something innovative, the organization must consider the best way of implementing the idea, which may mean allocating more resources, putting more people to work on the initiative, or coming up with different branding in the case of a new product?
a. Organizational restructuring b. Management changes c. Customers changing preferences d. Intrapreneurship
A good marketing manager knows that
A. functional accounts are usually needed for determining the profitability of products. B. functional accounts are usually needed for determining the profitability of customers. C. the costs allocated to functional accounts during a marketing cost analysis should equal-in total-those in the natural accounts. D. Both these answers are correct: Functional accounts are usually needed for determining the profitability of customers; and functional accounts are usually needed for determining the profitability of products. E. All these answers are correct.
If there is a defect in title, the courts will allow the buyer to refuse to go through with the purchase
Indicate whether the statement is true or false