Multiple Choice
Universal Corp.sold a used piece of machinery for $11,000 that it had purchased for $15,000.At the time of the sale,accumulated depreciation relating to the machinery was $6,000.As a result of this sale:
A) assets increase by $11,000.
B) revenues increase by $2,000.
C) net income increases by $2,000.
D) assets decrease by $4,000.
Correct Answer:
Verified
Correct Answer:
Verified
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