Farley River Inc. Use the Information Presented Below for Farley River, Inc.for 2015

question 121

Multiple Choice

Farley River Inc.
Use the information presented below for Farley River, Inc.for 2015 and 2014 to answer the questions that follow.Farley River uses the straight-line depreciation method.
-Refer to the information for Farley River, Inc.
Between 2014 and 2015, Farley River sold some equipment that had an original cost of $57,500.Which statement is most likely true concerning transactions that must have occurred during the period?

• A)Farley River also purchased additional equipment during the year.
• B)The selling price of the equipment sold was reported with net sales.
• C)The equipment that was sold had a book value of $12,500.
• D)The equipment sold had not been reported with Farley River's property, plant and equipment.

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Definitions:

Healthier Food Choices

The selection of foods that are beneficial to one's health, typically involving foods high in nutrients and low in unhealthy fats, sugars, and sodium.

Clear Liquid Diet

A temporary diet that consists only of clear liquids like water, broth, and clear juices, often recommended before certain medical procedures or tests.

Flavored Gelatin

A food product made by combining gelatin with flavors and sweeteners, often used in desserts and sweets.

Trace

Trace often refers to a very small amount or indication of something that is hardly noticeable or is present in minimal concentrations.