A fixed asset with a cost of $41,000 and accumulated depreciation of $36,500 is traded for a similar asset priced at $60,000. Assuming a trade-in allowance of $3,000, the recognized loss on the trade is
A) $3,000
B) $4,500
C) $ 500
D) $1,500
D
You might also like to view...
Which of the following is a tool that is best used by the audit team to determine if the client has included all disclosures?
a. Management representation letter. b. GAAS. c. Inquiry of the CFO. d. Checklists.
Both return on assets and working capital are profitability measures
Indicate whether the statement is true or false
If a company is spending more on the costs of nonconformance than on the costs of conformance
A) it has a quality problem. B) quality is integrated into the development and production processes. C) it is on a positive track. D) it is serious about customer satisfaction.
Esther has decided that she wants to increase her profits by expanding her market. She thinks it would be good for her organization to gain knowledge about different cultures and their business practices. With the advent of the Internet and other communication technologies, she sees that she can participate in the international marketplace with little additional expense. Which concept below did Esther decide to do?
a. Globalize b. Internationalize c. Nationalize d. Sovereignize