The business purchases an automobile for use by the company president who is on the road for the business over 5 0 of the time The automobile purchase gives rise to which of the following a automobile expense on the income statement b automobile expense on the balance sheet c automobile asset on the balance sheet d automobile asset on the income statement

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The business purchases an automobile for use by the company president who is on the road for the business over 5 0 % of the

The business purchases an automobile for use by the company president who is on the road for the business over

50 %

of the time. The automobile purchase gives rise to which of the following?

.

automobile expense on the income statement

.

automobile expense on the balance sheet

.

automobile asset on the balance sheet

.

automobile asset on the income statement

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