QUESTION 3 A company uses a reducing balance basis to charge depreciation. On the 01 January 2018, an asset with a cost of P8 000 and a useful life of 5 years was bought. On the 31 December 2019, the company decided to sell the asset for P4 000. What is the profit or loss on disposal? A. P500 loss B. P800 loss C. P500 profit D. P800 profit

When calculating the bountiful returns that retirees allegedly would glean from stock investments, privateers use rosy projections about a continually booming market. but when predicting bankruptcy for social security, they switch to pessimistic projections of a low-growth economy with abnormally low payments into the fund. in fact, far from going broke, social security produces enormous surpluses. from __ to americans paid more in social security taxes than were paid out in benefits. according to the congressional budget office, the social security trust fund will remain solvent until at least social security is the only federal program that produces about $150 billion yearly surplus, the only program that shows every sign of being selfsupporting and solvent for over thirty years to come yet is repeatedly described by its enemies as being in danger of insolvency?

Which statement describes a monopoly? many firms produce identical products with no control over the market price. many firms produce differentiated products with control over market price. a single firm produces a product with no close substitutes and control over the market price. a single firm produces a product with many close substitutes and limited control over the market price.

When an interest-bearing note comes due and is uncollectible, the journal entry includes debiting