Wildcat Baseball Company Had a Player Contract with Carter That

question 26

Short Answer

Wildcat Baseball Company had a player contract with Carter that was recorded in its accounting records at $5,800,000.Aggie Baseball Company had a player contract with Jeter that was recorded in its accounting records at $5,600,000.Wildcat traded Carter to Aggie for Jeter by exchanging each player's contract.The fair value of each contract was $6,000,000.What amount should be shown in the accounting records after the exchange of player contracts? $\begin{array}{lll}&\text { Wildcat } & \text { Aggie }\\\text { a. } & \$ 5,600,000 & \$ 5,600,000 \\\text { b. } & \$ 5,600,000 & \$ 5,800,000 \\\text { c. } & \$ 5,800,000 & \$ 5,600,000 \\\text { d. } & \$ 6,000,000 & \$ 6,000,000\end{array}$

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Definitions:

Operant Conditioning

A learning process through which the strength of a behavior is modified by reinforcement or punishment, introduced by B.F. Skinner.

Observational Learning

The process of learning behaviors by watching the actions of others, and the outcomes of those actions.

Instrumental Conditioning

A learning process through which the strength of a behavior is modified by reinforcement or punishment, also known as operant conditioning.

Acquisition

The process of learning or developing a new skill, behavior, or ability.