Pike LtdBought a New Delivery Truck for Its Business

question 10

Multiple Choice

Pike Ltd.bought a new delivery truck for its business.The truck sells for $75,000, because Pike bought a demonstrator model, they paid $65,000 only.While driving it home from the sales lot, the driver had an accident, and damages were estimated at $1,000.At what value should the truck be recorded on Pike's statement of financial position?

• A)$64,000
• B)$65,000
• C)$66,000
• D)$75,000

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Definitions:

Cohesive

The quality of forming a united whole, indicating how well elements stick together and are mutually supportive within a group or system.

Feedback

Information provided about the results of one's actions intended to guide future behavior or performance.

Rational Model

A decision-making process based on systematic analysis of a problem, identification of options, and logical choice among alternatives.

Holistic Picture

An overall or complete view that considers all factors, elements, or aspects of a situation.