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General MCQ for Accounting Assets And Revenue

1. XYZ Company owns machinery with a cost of $100,000 and an accumulated depreciation of $60,000 on January 1, 2007. On July 1, 2007, the machinery is sold for $43,000. The straight line depreciation method has been used during the previous six years of life. How much gain or loss will be recorded on the sale?

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MCQ on Basic Accounting Assets and Revenue General Accounting Assets And Revenue MCQs
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Accounting Assets And Revenue Subjects
Basic Accounting Assets and Revenue MCQs
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Accounting Assets And Revenue Skill Assessment
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Accounting Assets And Revenue Subjects
Basic Accounting Assets and Revenue MCQs
More Resources
Accounting Assets And Revenue MCQ
Accounting Assets And Revenue Skill Assessment
Accounting Assets And Revenue PDF
Related MCQs
Accounting Cash Flow
Accounting knowledge
Accounting Principles
Accounting Skills (Securities, Derivatives and Investments)
Accounts Payable
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