If a County Sells a Capital Asset with a Net

question 35

Multiple Choice

If a county sells a capital asset with a net book value of $35,000 for $27,000, how will this transaction be recorded on the operating statement conversion worksheet of the two-worksheet conversion approach?

• A) A deduction from an other financing source for $8,000.
• B) An addition to an other financing use for $35,000.
• C) An addition to an other financing use for $8,000.
• D) A deduction from an other financing source for $35,000.

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