Foghorn Ltd

question 145

Multiple Choice

Foghorn Ltd. has an asset with an original cost of $16,000 and a carrying amount (net book value) today of $4,400. The Company no longer needs the asset and has decided to sell it today for $3,000 cash. The journal entry Foghorn will use to record the sale includes:

• A) a credit to the asset account for $4,400.
• B) a debit to the asset account for $4,400.
• C) a debit to accumulated amortization for $11,600.
• D) a credit to cash account for $3,000.

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Definitions:

Assertive Confrontation

A communication strategy used to address and resolve conflicts directly and respectfully.

Destructive Confrontation

A conflict approach that likely results in harm or breakdown of relationships rather than constructive solutions.

Discrepant Viewpoint

A perspective or opinion that significantly differs from another, often leading to disagreements or debates on a particular issue.

Additive Empathy

The practice of actively building on one's empathy by accumulating understanding and emotional insights from various situations or interactions.