Which of the Following Items Is Included in the Journal

question 88

Multiple Choice

Which of the following items is included in the journal entry if a company sells equipment at a price equal to its book value?

• A) A debit to Loss on sale of equipment
• B) A credit to Equipment for its original cost
• C) A credit to Accumulated depreciation
• D) A debit to Equipment for its book value

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Definitions:

Jury Trial

A legal proceeding where a jury made up of citizens determines the outcome of a case.

Double Jeopardy

The legal principle that prohibits an individual from being tried twice for the same crime in the same jurisdiction.

Provincial Court

A lower level court in Canada that handles less serious criminal offenses, family law (excluding divorce), and small claims.

Civilly Sued

The process of bringing a lawsuit in civil court to seek remedy for a wrongdoing that does not necessarily constitute a criminal offense.