Which of the Following Items Is Included in the Journal

question 35

Multiple Choice

Which of the following items is included in the journal entry if a company sells equipment at a price greater than its carrying amount?

• A)A debit to Loss on sale of equipment
• B)A credit to Accumulated depreciation
• C)A credit to Gain on sale of equipment
• D)A debit to Equipment for its carrying amount

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Definitions:

Linear Programming

A mathematical method for determining a way to achieve the best outcome in a given mathematical model for some list of requirements represented as linear relationships.

Sensitivity Analysis

A method used to predict the outcome of a decision under various scenarios by changing one or more variables while keeping others constant.

Variables

Elements, features, or factors that are likely to vary or change; can be quantitative or qualitative in research and statistical analysis.

Shadow Price

A theoretical price representing the cost or benefit of having one additional unit of a particular resource in a constraint optimization problem.