If a Fixed Asset with an Original Cost of $18,000

Multiple Choice

If a fixed asset with an original cost of $18,000 and accumulated depreciation of $2,000 is sold for $15,000,the company must

A) recognize a loss on the income statement under other expenses.
B) recognize a loss on the income statement under operating expenses.
C) recognize a gain on the income statement under other revenues.
D) Gains and losses are not to be recognized upon the sell of fixed assets.