If equipment were purchased from an outside party, the using up of the equipment's 7)economic benefit would be considered an external transaction.

Name: If equipment were purchased from an outside party, the using up of the equipment's 7)economic benefit would be considered an external transaction.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The using up of the equipment's economic benefit is an internal transaction, as it involves the consumption of the asset within the company, not a transaction with an outside party.

If Equipment Were Purchased from an Outside Party, the Using