A Company Determines That Depreciation Expense for the Year Is

question 28

Multiple Choice

A company determines that depreciation expense for the year is $25 000, 10% of the cost of their non-current assets. The journal entry to record this adjustment would include:

• A)a debit to accumulated depreciation expense for $25 000.
• B)a credit to accumulated depreciation for $25 000.
• C)a debit to depreciation expense for $2 500.
• D)a credit to depreciation expense for $2 500.

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Definitions:

Pert Chart

A project management tool that outlines the tasks involved in a project, their sequence, and the time required for each, facilitating the identification of the critical path for project completion.

Market Development

The process of expanding into new markets or segments to increase the reach and sales potential of a company's products or services.

Product Development

The process of creating or improving a product or service, from initial concept through market release and beyond.

Diversification

A risk management strategy that involves adding variety to a portfolio to spread out exposure and reduce the impact of volatility.