In 2018, Internal Auditors Discovered That Fay, Inc

question 116

Multiple Choice

In 2018, internal auditors discovered that Fay, Inc., had debited an expense account for the $700,000 cost of a machine purchased on January 1, 2015. The machine's useful life was expected to be five years with no residual value. Straight-line depreciation is used by Fay. The journal entry to correct the error will include a credit to accumulated depreciation of:

• A) $140,000.
• B) $280,000.
• C) $420,000.
• D) $700,000.

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Definitions:

Male Ejaculates

The process by which a male discharges semen from the body during sexual climax.

Muscle Control

The ability to direct and coordinate muscle movement in the body.

Stimulus Motive

An intrinsic desire to explore and interact with the environment, driven by external stimuli.

Primary Drive

A basic, innate urge or motivation, such as hunger or thirst, that prompts an organism to take action to satisfy its needs.