If a Computer with a Fully Depreciated Cost of $30

question 62

Multiple Choice

If a computer with a fully depreciated cost of $30 000 is discarded as worthless, the accounting entry to record the scrapping is which of the following?

• A) Debit expense on disposal of asset $30 000; credit computer $30 000
• B) Debit expense on disposal of asset $30 000; credit accumulated depreciation computer $30 000
• C) Debit accumulated depreciation computer $30 000; credit computer $30 000
• D) Debit accumulated depreciation computer $30 000; credit computer $30 000; Debit expense on disposal of asset; credit proceeds of disposal of asset $30 000

Explain the concept of an unconsolidated investee and its treatment under IFRS and GAAP.

Understand the distinction between lapse and relapse in the context of addiction and recovery.

Identify and critique behavioral goals and strategies in relapse prevention.

Recognize statistics and likelihood of relapse among individuals with addiction.

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Definitions:

Expected Annual Operating Activity

The projected level of operations, including production and sales, anticipated for a company over a year.

Common Activity Base

A measure used in activity-based costing for allocating overhead and indirect costs to products or services based on relevant activities.

Job Cost Sheet

A document that records the materials, labor, and manufacturing overhead costs assigned to an individual job or project.

Cost Accounting

A branch of accounting focused on capturing a company's total cost of production by assessing its variable and fixed costs.