Proceeds from the Sale of Equipment Is What Type of Account

question 12

Multiple Choice

Proceeds from the sale of equipment is what type of account?

• A) Liability
• B) Income
• C) Expense
• D) Negative asset

---

Definitions:

Intelligence Quotient

A measure of an individual's cognitive abilities in comparison to the population, usually determined by an IQ test.

Chronological Age

The actual age of an individual measured in years from their date of birth to the current date.

Flynn Effect

The rise in average IQ scores that has occurred over the decades in many nations.

IQ Scores

Numerical measures of intelligence relative to one's age group, derived from standardized tests.