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:

Career

A long-term professional journey that an individual embarks on, which often includes changes in jobs, learning new skills, and progressing in job roles.

Job

Employment, typically a role performed by an individual in exchange for payment.

Money

A medium of exchange used to facilitate the sale, purchase, or trade of goods and services, acting as a unit of account, a store of value, and sometimes, a standard of deferred payment.

Career Interest

Personal preferences or inclinations towards specific professions or occupational areas.