A fixed asset register had a balance of $125 000. A fixed asset, which had cost $12 000, was sold for $9 000 at a profit of $2 000. What is the revised balance on the fixed asset register？
A. $113 000
B. $118 000
C. $125 000
D. $127 000
查看答案
Which one of the following best describes "purchases" in accounting？______.
A. Items bought
B. Goods bought for re-sale
C. Goods paid for
D. Fixed assets bought
【C3】______
A. when
B. while
C. though
D. as
During a period of rising prices, which one of the following statements is correct？______.
A. The LIFO method will produce lower profits than the FIFO method, and lower closing stock values.
B. The LIFO method will produce lower profits than the FIFO method, and higher closing stock values.
C. The FIFO method will produce lower profits than the LIFO method, and lower closing stock values.
D. The FIFO method will produce lower profits than the LIFO method, and higher closing stock values.
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