The Adjusting Entry to Record the Depreciation of Equipment for the Fiscal

question 74

Multiple Choice

The adjusting entry to record the depreciation of equipment for the fiscal period is

• A) debit Depreciation Expense; credit Equipment
• B) debit Depreciation Expense; credit Accumulated Depreciation
• C) debit Accumulated Depreciation; credit Depreciation Expense
• D) debit Equipment; credit Depreciation Expense

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Definitions:

Measurable

Capable of being quantified or assessed through specific metrics or criteria.

Attainable

Something that can be achieved with effort, within the bounds of possibility.

Realistic

Pertaining to the accurate representation of the real world.

Timebound

Characterized by a specific duration or deadline within which a task or project must be completed.