Multiple Choice
A company using the group depreciation method for its delivery trucks retired one of its delivery trucks due to damage before the average service life of the group was reached.An insurance recovery was received.The net book value of these group asset accounts would be decreased by the
A) Original cost of the truck
B) Original cost of the truck less the insurance recovery received
C) Original cost of the truck less depreciation on the truck to the date of retirement
D) Insurance recovery received
Correct Answer:
Verified
Correct Answer:
Verified
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