Which of the Following Statements Is Incorrect with Respect to the Sale

question 77

Multiple Choice

Which of the following statements is incorrect with respect to the sale of a depreciable asset for a loss?

• A)Net income deceases and total assets decrease.
• B)Net income and stockholders' equity both decrease.
• C)Total assets and stockholders' equity both decrease.
• D)Total assets increase and stockholders' equity decreases.