A machine that was purchased for $110,000 has accumulated depreciation of $70,000. The business exchanges the machine for a new one. The new machine has a market value of $140,000, and the business pays $110,000 cash. Assume the exchange has commercial substance. This exchange results in a ________.
A) gain of $10,000
B) gain of $5000
C) loss of $10,000
D) loss of $40,000
C) loss of $10,000
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Edgar Schein conceptualized culture as existing at three levels. Which one of the following is NOT one of those levels?
a. Values b. Basic assumptions c. Climate d. Artifacts
An external customer service audit would most likely identify which of the following?
a. Service characteristics that are important to shareholders b. Service characteristics that are important to firm executives c. Service characteristics that are important to suppliers d. Service characteristics that are important to customers and customer expectations for those characteristics
Ten years ago, Emma purchased an investment for $22,500. The investment earned 7 percent interest each year. What is the value of the investment today?
A. $36,667.76 B. $38,250.26 C. $40,527.37 D. $44,260.91 E. $46,458.63
During a period of steadily rising costs, the inventory valuation method that yields the highest reported net income is:
A. Average cost method. B. LIFO method. C. Specific identification method. D. FIFO method. E. Weighted-average method.