Doff Manufacturing Co.sold equipment that cost $12,000 for $3,000.Depreciation of $10,000 had been taken on the equipment.How is the Cash Flows from Operating Activities affected?
A) The loss of $1,000 is added to Net Income
B) The gain of $1,000 is added to Net Income
C) The gain of $1,000 is deducted from Net Income
D) The loss of $1,000 is deducted from Net Income
Correct Answer:
Verified
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