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:

Decision Making

The cognitive process of selecting a course of action from multiple alternatives.

Work Teams

Groups of employees who collaborate and share responsibilities to achieve common goals and deliver project outcomes.

Collective Work

Efforts undertaken by a group of individuals working together towards a common goal or project.

Personal Accountability

The willingness to take responsibility for one's own actions and their outcomes.