When there is the liquidation of fixed assets that are of use-value with cash collection, the accounts recorded are as follows <em>C. Increase income, reduce costs.</em>
- The income increases because of the cash collection from the liquidation. The fixed assets' accounts are credited (reduced) with the costs.
- Then debit the accumulated depreciation account with the amount of its balance. A new account called the <em>"Sale of Fixed Assets" account</em> opens.
- The <em>"Sale of Fixed Assets" account</em> is debited with the costs and credited with the accumulated depreciation and the cash proceeds from the disposal.
Thus, the difference is an increase in income (profit) if the credit side exceeds the debit side of the <em>"Sale of Fixed Assets" account</em>.
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The correct answer is letter C.
Explanation: Enlightenment is a cultural movement that developed in England, Holland and France in the seventeenth and eighteenth centuries. At that time, intellectual development, which had been taking place since the Renaissance, gave rise to ideas of political and economic freedom defended by the bourgeoisie. The philosophers and economists who spread these ideas considered themselves propagators of light and knowledge.
