These Are Selected Account Balances on December 31, 2015 What Is the Total Net Amount of Property, Plant, and

question 148

Multiple Choice

These are selected account balances on December 31, 2015. $$\begin{array} { l r } \text { Land (location of the office building) } & \$ 100,000 \\\text { Land (held for future use) } & 150,000 \\\text { Office Building } & 700,000 \\\text { Inventory } & 200,000 \\\text { Equipment } & 450,000 \\\text { Office Furniture } & 150,000 \\\text { Accumulated Depreciation } & 425,000\end{array}$$ What is the total net amount of property, plant, and equipment that will appear on the balance sheet?

• A) $975,000
• B) $1,125,000
• C) $1,175,000
• D) $1,400,000

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Definitions:

Delegating

The process of assigning responsibility and authority to others to complete a clearly defined task while maintaining accountability for its success.

Decision Making

The mental process involved in choosing an action path from several options.

Division Of Labor

The allocation of different parts of a manufacturing process or task to different people in order to improve efficiency.

Coordinator

A person or role responsible for organizing activities and ensuring that tasks are completed efficiently and effectively.