In 2010, Newman Company Paid $1,000,000 to Purchase Land Containing

question 12

Multiple Choice

In 2010, Newman Company paid $1,000,000 to purchase land containing a total estimated 160,000 tons of extractable mineral deposits. The estimated value of the property after the mineral has been removed is $200,000. Extraction activities began in 2011, and by the end of the year, 20,000 tons had been recovered and sold. In 2012, geological studies indicated that the total amount of mineral deposits had been underestimated by 25,000 tons. During 2012, 30,000 tons were extracted, and 28,000 tons were sold. What is the depletion rate per ton (rounded to the nearest cent) in 2012?

• A) $4.24
• B) $4.32
• C) $4.85
• D) $5.19

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Definitions:

Transformational Leaders

Leaders who inspire and motivate followers to exceed their own interests for the good of the organization, often by fostering a vision and challenging the status quo.

Attraction-Selection-Attrition (ASA) Theory

A theory in organizational psychology that explains how organizations and their members are aligned, suggesting that organizations attract, select, and retain individuals with similar personalities and values.

Organizational Values

The core principles and beliefs that guide the behaviors and decision-making processes within an organization.

Socialization Agents

Individuals, groups, or institutions that play a role in integrating people into society or specific parts of it, teaching social norms and values.