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An Asset with a Cost of $45,000 and Accumulated Depreciation

Question 75

Multiple Choice

An asset with a cost of $45,000 and accumulated depreciation of $37,500 is sold for $9,500.What is the amount of the gain or loss on disposal?

A) $2,500 loss
B) $2,500 gain
C) $2,000 gain
D) $2,000 loss

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