On June 30, 2010, Rock, Ltd

question 50

Multiple Choice

On June 30, 2010, Rock, Ltd.exchanged 3,000 of Shale Corp.no par value common shares for a patent owned by Iller Co.The Shale shares were acquired in 2008 at a cost of $80,000.At the exchange date, Shale common shares have a fair value of $45 per share, and the patent had a net carrying value of $160,000 on Iller's books.Rock should record the patent at

• A)$160,000.
• B)$135,000.
• C)$90,000.
• D)$80,000.

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Definitions:

Nonlinear Transitional Slide

A slide in a presentation that does not follow a linear progression but instead moves in a non-sequential or thematic manner to connect different ideas.

Build Slide

The creation of a single visual element within a presentation, designed to convey information or support a speaker's message.

Handout Materials

Printed or digital materials distributed to participants during a meeting, presentation, or class for reference or further study.

Agenda Slide

A slide in a presentation that outlines the topics or sections to be covered, typically used to provide an overview and guide the audience through the content.