QUESTION 15 Which of the following is used to describe the process of expense recognition for equipment? Amortization Depletion Depreciation Extension QUESTION 16 A truck that cost $30,000 to purchase and has $20,000 of accumulated depreciation is sold for $5,000. Which of the following is true? Liabilities would decrease by $5,000 Liabilities would increase by $5,000 Equity would increase by $5,000 Equity would decrease by $5,000 Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save A