CFA Practice Question

There are 520 practice questions for this study session.

CFA Practice Question

The journal entry to record the sale or disposition of a depreciable plant asset always includes ______.
A. recognition of a gain or loss
B. a debit to the accumulated depreciation account for the related accumulated depreciation
C. a debit to the asset account for the book value of the asset

User Contributed Comments 2

User Comment
cpt28 A: can be break even (no gain/loss). C: the asset account is debited.
jam99003 When you sell an asset, you take it off your books. Thus, you must credit that asset.
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