When Historical Cost Is Used to Record Equipment,it Would Appear

question 6

Multiple Choice

When historical cost is used to record equipment,it would appear as the:

• A)original cost on the balance sheet.
• B)residual value on the income statement.
• C)residual value on the balance sheet.
• D)original cost on the income statement.

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Definitions:

Slope

The measure of the steepness or incline of a line on a graph, representing the rate of change.

Vertical Axis

The y-axis on a graph that is typically used to display the variable being measured or manipulated.

Horizontal Axis

In a graph or chart, the x-axis, which typically represents the independent variable or the base measure for comparison.

Pie Chart

A pie chart is a circular statistical graphic divided into slices to illustrate numerical proportion. Each slice represents a category's contribution to the whole.