The Accounting Entry for Additions and Improvements That Increase the Usefulness

question 80

Multiple Choice

The accounting entry for additions and improvements that increase the usefulness of equipment includes

• A) debiting a liability account and crediting Building or Equipment.
• B) debiting Cash and crediting Building or Equipment.
• C) debiting Building or Equipment and crediting Cash or a liability account.
• D) debiting Building Expense or Equipment Expense and crediting Cash or a liability account.

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Definitions:

Variation

The differences observed within and among populations in genetically inherited characteristics, essential for natural selection and evolution.

Heritability

The proportion of observed variation in a particular trait among individuals of a population that can be attributed to inherited genetic factors.

Medium Ground Finch

A species of bird in the Galapagos Islands, known for its variable beak size, studied in the context of natural selection.

Australian Snake

Reptiles found in Australia, known for both venomous and non-venomous species, playing crucial roles in the ecosystem as predators and prey.