A Truck Costing $72000 and on Which $60000 of Accumulated

question 172

Multiple Choice

A truck costing $72000 and on which $60000 of accumulated depreciation has been recorded was discarded as having no value.Recording this event would include a(n)

• A)gain of $12000.
• B)loss of $12000.
• C)increase to Accumulated Depreciation for $60000.
• D)increase to Accumulated Depreciation for $72000.

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Definitions:

Amended

Officially modified, edited, or revised typically referring to documents, laws, or agreements to bring them up to date or improve them.

Annapolis Convention

A convention held in 1786 to address weaknesses in the Articles of Confederation that led to the drafting of the U.S. Constitution.

Delegates

Representatives who are chosen or elected to attend and vote at a conference or convention on behalf of a group.

Three-Fifths Compromise

An agreement made during the 1787 United States Constitutional Convention that counted three out of every five slaves as a person for the purposes of taxation and representation in Congress.