A Truck That Cost $21,000 and on Which $10,000 of Accumulated

question 244

Multiple Choice

A truck that cost $21,000 and on which $10,000 of accumulated depreciation has been recorded was disposed of for $9,000 cash. The entry to record this event would include a

• A) gain of $2,000.
• B) loss of $2,000.
• C) credit to the Truck account for $11,000.
• D) credit to Accumulated Depreciation for $10,000.

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Definitions:

Ethnic Roots

The cultural, national, or racial background from which a person or their ancestors originate.

Concept Of Ethnicity

The idea that groups of people have distinct cultural identities, defined by language, religion, customs, traditions, and heritage, differentiating them from other groups.

Situational

Relating to or depending upon a particular set of circumstances or context, often implying that outcomes can vary based on environmental factors.

Relative Economic Success

The economic status of an entity judged in comparison with others, often measured in terms of growth, income, and stability.