Computer equipment used in the business office of a not-for-profit organization was sold for $9,000 . The original cost of the equipment had been $21,000 and there was $15,000 of accumulated depreciation as of the date of sale
How will the gain be reported?
A. Gains are not recognized in not-for-profit organizations.
B. Unrestricted gain of $3,000.
C. Temporarily restricted gain of $3,000.
D. Permanently restricted gain of $3,000.
B
Business
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Indicate whether the statement is true or false
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