A company sells $50,000 of old equipment for cash. The $50,000 is the equipment's depreciated value. As per the "Accounting Equation" the effect on Owner's Equity of this transaction is a decrease of $50,000 $0 O an increase of $50,000 none of the listed answers are correct Question 2 (1 point) Saved True or false........... As compared to "Imposed Budgets", "Participative Budgets" tend to foster a higher degree of "buy-in/commitment" amongst the managers who must implement the budget. True False Question 9 (1 point) Saved Individual department managers are responsible for understanding all items in their budget have full control over all aspects of their budget cannot be held responsible for their budgets as they may not have full control over their formulation or actual results are fully responsible and have full control over all aspects of their budget Following the accounting principle of "Timeliness", asset value increases due to inflation of pre-existing assets are normally reflected in the Balance Sheet True False