Use the Following Information for Questions

question 35

Multiple Choice

Use the following information for questions
A machine cost $120,000, has annual depreciation of $20,000, and has accumulated depreciation of $90,000 on December 31, 2006.On April 1, 2007, when the machine has a market value of $27,500, it is exchanged for a machine with a fair value of $135,000 and the proper amount of cash is paid.The exchange lacked commercial substance.
-The new machine should be recorded at

• A)$107,500.
• B)$122,500.
• C)$132,500.
• D)$135,000.

Understand the concepts and traits of entrepreneurial leadership.

Analyze the motivations behind leadership roles and their implications in a business setting.

Comprehend the principles of participative leadership and its impact on team dynamics and decision-making.

Evaluate the challenges faced by leaders adopting different leadership styles.

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Definitions:

Intentional Deceit

The act of deliberately misleading or deceiving someone, often for personal gain or to deceive.

Fraudulent Misrepresentation

Occurs when a false statement is knowingly made to induce another party to act, resulting in harm or loss.

Puffery

A salesperson’s exaggerated claims concerning the quality of goods offered for sale. Such claims involve opinions rather than facts and are not considered to be legally binding promises or warranties.

Fraudulent Misrepresentation

False statements or claims made knowingly with the intention of deceiving another party, leading them to enter into a contract or agreement.