Multiple Choice
A plant asset with a cost of $240,000 and accumulated depreciation of $228,000 is sold for $28,000. What is the amount of the gain or loss on disposal of the plant asset?
A) $28,000 loss.
B) $16,000 loss.
C) $16,000 gain.
D) $28,000 gain.
Correct Answer:
Verified
Correct Answer:
Verified
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