9. (Multiple Choice) Which of the following is false? A. Cost less accumulated depreciation equals depreciable base. B. “Depreciation expense” and “accumulated depreciation” are synonymous.
Question
9. (Multiple Choice)Which of the following is false?A. Cost less accumulated depreciation equals
depreciable base. B. “Depreciation expense” and “accumulated depreciation” are synonymous. C. Depreciation expense normally increases over the service life of an asset.. D. All of the above. E. None of these.
10. (Multiple Choice)
Richards Hospital was incorporated on August 1. The initial capital was raised by issuing $2,000,000 of stock. The appropriate journal entry for this transaction is:
A. Debit Cash/Credit Revenue. B. Debit Capital Stock/Credit Revenue. C. Debit Capital Stock/Credit Cash. D. Debit Cash/Credit Capital Stock. E. None of these.
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