Sabrina's Fabric Land Bought $5,000 of Equipment at the Beginning

question 21

Multiple Choice

Sabrina's Fabric Land bought $5,000 of equipment at the beginning of 2019. Amortization expense on the 2019 income statement is $400. What is the balance in accumulated amortization on December 31, 2019?

• A)$5,000
• B)$400
• C)$4,600
• D)$0

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Definitions:

Unemployment Rates

The percentage of the labor force that is jobless and actively seeking employment.

Educational Levels

The stages or degrees of formal learning individuals obtain, ranging from primary education to higher education and beyond.

William Julius Wilson

A prominent American sociologist renowned for his research on urban sociology, race, and class in the United States.

Reparations

Compensation given for abuse or injury, often discussed in the context of compensating the descendants of enslaved Africans in the Americas and elsewhere.