A plant asset cost $27,000 when it was purchased on January 1, 2008. It was depreciated by the straight-line method based on a 9-year life with no salvage value. On June 30, 2015, the asset was discarded with no cash proceeds. What gain or loss should be recognized on the disposal?

When an appraiser relies on the principle of substitution, he assumes that one property may be substituted for another in terms of:

A: Income; B: Use; C: Structural design; D: Any of the above.

Competing with the partnership without the permission of other partners violates a general partner's ________

A) duty to inform B) duty of loyalty C) duty of care D) duty of obedience