When a Depreciable Asset Is Sold at a Price Equal

question 18

Multiple Choice

When a depreciable asset is sold at a price equal to its book value,a journal entry would include:

• A)A credit to the asset account for its book value.
• B)A debit to accumulated depreciation.
• C)A credit to accumulated depreciation.
• D)A credit to cash.

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Definitions:

Alkanes

Saturated hydrocarbons consisting of carbon and hydrogen atoms with single bonds between carbons, known for their stability and lack of reactivity.

Unsaturated Hydrocarbons

Organic compounds that contain at least one carbon–carbon double or triple bond, characterized by their ability to undergo addition reactions.

Organic Compounds

Chemical compounds containing carbon atoms, bonded mainly to hydrogen, oxygen, or nitrogen atoms, and which are the basis of all living organisms' structures and functions.

Bicyclic Alkane

A type of organic compound that contains two rings, which are made entirely of carbon and hydrogen atoms, sharing one or more common carbon atoms.