Which of the Following Would Be Used to Record the Depreciation

question 20

Multiple Choice

Which of the following would be used to record the depreciation of manufacturing equipment?

• A)Raw Materials Inventory would be debited.
• B)Work in Process Inventory would be debited.
• C)Manufacturing Overhead would be debited.
• D)Manufacturing Overhead would be credited.

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Definitions:

Adjusted

refers to altering or changing something to accommodate or match a certain condition or circumstance.

Allocation

The process of assigning or distributing resources, costs, or expenses to various accounts or periods.

Deduct

Deduct refers to the act of subtracting an amount from a total, often used in financial contexts such as subtracting expenses or costs from income to calculate taxable income.

AGI

AGI, short for Adjusted Gross Income, is an individual's total gross income minus specific deductions, used to determine how much of one's income is taxable.