When a Machine Having a Net Book Value of $15,000

question 3

Multiple Choice

When a machine having a net book value of $15,000 is sold for $12,000:

• A)current assets decrease, equipment (net)increases, and net income increases.
• B)current assets increase, equipment (net)decreases, and net income increases.
• C)current assets increase, equipment (net)decreases, and net income decreases.
• D)current assets increase, equipment (net)increases, and net income decreases.

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Definitions:

Kohlberg's Stage

Refers to one of the stages in Lawrence Kohlberg's theory of moral development, detailing the progression of moral reasoning from childhood through adulthood.

Logical

Relates to the use of reasoning in accordance with the principles of logic, often implying a clear, reasoned, and methodical approach to problem-solving.

Cleaning Room

The act of organizing, tidying, and removing dirt from a room to maintain a clean and pleasant environment.

Universal-ethical Principles

Moral principles that are considered to be universal and apply to all individuals, regardless of culture, society, or personal circumstance.