Multiple Choice Question\ Which of the following statements is correct regarding a long-lived asset such as equipment?\ When adjusting entries are recorded, the original cost in the Equipment account will increase.\ When adjusting entries are recorded, the original cost in the Equipment account will not change.\ When adjusting entries are recorded, the original cost in the Equipment account could increase or decrease.\ When adjusting entries are recorded, the original cost in the Equipment account will decrease.

Which of the following statements is correct regarding a long-lived asset such as equipment? When adjusting entries are recorded, the original cost in the Equipment account will increase. When adjusting entries are recorded, the original cost in the Equipment account will not change. When adjusting entries are recorded, the original cost in the Equipment account could increase or decrease. When adjusting entries are recorded, the original cost in the Equipment account will decrease