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D Question 26 1.67 pts When an asset is sold, depreciation must be recorded for the period since the last preparation of tinancial statements O True O False Question 27 1.67 pts Which of the following accounting principles dictates that an asset's cost should be expensed over its useful life? O Matching O Conservatism Consistency O Going concern O Revenue recognition IV Question 28 1.67 pts On January 1, 2016, Becky Corporation purchased debt securities of Emily Corporation for 85,000. The investment is classified as available-for-sale debt securities. During the year, $300 cash interest is received from the Emily investment, At the end of the year, the investments is selling for $7,200. What would be the journal entry to adjust the securities to fair value at the end of the year? O Debit Investment in Available-for-Sale Debt Securities and credit Umwealized Gain on Available-for-Sale Debt Securities for $2,200 Debit Investment in Available-for-Sale Debt Securities and credit Cash for $7.200 O Debit Unrealized Gain on Available-for-Sale Debt Securities and credit Investment in Available-for-Sale Debt Securities for $2,200 O Debit Cash and credit Investment Income for $300 Question 29 1.67 pts Ben Corporation began the year with $350,000 in total assets and ended the year with $420,000 in total assets. Sales for the year were $500,000. Total expenses incurred during the year amounted to $435,000. Compute Ben's total asset turnover for the year. o 1.30 times O 1.43 times O 1.19 times 01.13 times No answer text provided

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