Multiple Choice
A company sold a machine that originally cost $100,000 for $60,000 cash. The accumulated depreciation on the machine was $40,000. The company should recognize a:
A) $0 gain or loss.
B) $20,000 gain.
C) $20,000 loss.
D) $40,000 loss.
E) $60,000 gain.
Correct Answer:
Verified
Correct Answer:
Verified
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