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:

Major Subunits

refers to the primary divisions or sections within an organization, typically defined by function or geography.

Work Responsibilities

Tasks and duties that an individual or team is obligated to perform as part of their job or role in an organization.

Common Manager

A role within organizations tasked with overseeing and directing the day-to-day operations and administrative functions.

Organization Chart

A diagram that displays the structure of an organization and the relationships and relative ranks of its parts and positions/jobs.