Multiple Choice
A plant asset with a cost of $30,000 and accumulated depreciation of $27,500 is sold for $3,500. What is the amount of the gain or loss on disposal of the plant asset?
A) $2,500 loss.
B) $1,000 loss.
C) $1,000 gain.
D) $2,500 gain.
Correct Answer:
Verified
Correct Answer:
Verified
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