Which of the Following Items Is Included in the Journal

question 133

Multiple Choice

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

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

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Definitions:

Epistemic Cognition

The ways in which an individual understands how they arrived at ideas, beliefs, and conclusions.

Metacognition

The awareness and understanding of one's own thought processes, including the ability to monitor, regulate, and adapt these processes for better learning.

Relativistic Thinking

A type of thinking that recognizes the validity of multiple perspectives and that knowledge is contextual rather than absolute.

Dualism

A philosophical concept that posits the existence of two fundamental principles, often mind and body, as separate and fundamentally different in nature.