Which of the Following Could Be a Correct Journal Entry $\quad$

question 2

Multiple Choice

Which of the following could be a correct journal entry to record the disposition of equipment?
A. Dr. Accounts payable
$\quad$ $\quad$ Cr. Accumulated depreciation
$\quad$ $\quad$ Cr. Depreciation

B. Dr. Cash
Dr. Loss on sale of equipment
Dr. Accumulated depreciation
$\quad$ Cr. Equipment

C. Dr. Gain on sale of equipment
Dr. Accumulated depreciation
$\quad$ Cr. Equipment

D. Dr. Cash
Dr. Loss on sale of equipment
$\quad$ Cr. Accumulated depreciation
$\quad$ Cr. Equipment

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Definitions:

Diversification Strategy

A business approach where a company broadens its range of products or markets to reduce risk and increase potential for growth.

Corporate Strategies

High-level plans or frameworks developed by businesses to achieve their long-term objectives and to secure a competitive position in the market.

Retrenchment Strategy

A business strategy used to reduce the scale or scope of a company's operations to improve financial stability during tough times.

Recruiting

The process of identifying, attracting, and selecting candidates for employment to fill job vacancies.