Depreciation of Fixed Assets Is Recorded in A

question 128

Multiple Choice

Depreciation of fixed assets is recorded in a:

• A)cash payments journal.
• B)sales journal.
• C)cash receipts journal.
• D)general journal.

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Definitions:

Insuring

The act of providing or arranging insurance as protection against a possible eventuality.

Collateral

An asset that a borrower offers to a lender as security for a loan, which can be seized if the borrower fails to repay the loan.

Financing Statement

A document filed to give public notice that a creditor has a security interest in the property of a debtor, often used in secured transactions.

Enforceable Security Interest

A legal claim or right granted to a creditor to secure repayment of a debt that can be enforced by law.