Multiple Choice
Albatross Services scrapped a van.The van originally cost $40 000,had an estimated residual value of zero and an estimated life of 10 years.At the time it was scrapped,it was fully depreciated.What was the effect of scrapping the van?
A) loss of $1 000
B) loss of $2 000
C) no gain or loss
D) gain of $2 000
Correct Answer:
Verified
Correct Answer:
Verified
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