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Sale of Plant Assets
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Problem 10
Sale of Plant Assets
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8. Long Lived Assets / Sale of Plant Assets / Problem 9
Problem 9
How is the equipment account adjusted when a plant asset is sold?
A
The account is increased by the asset's net book value.
B
The account is increased by the sale proceeds.
C
The account is decreased by the accumulated depreciation.
D
The account is decreased by the asset's original cost.
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