On June 30, 2017, Carter Ltd

question 21

Multiple Choice

On June 30, 2017, Carter Ltd.exchanged 3,000 Butte Corp.common shares for a patent owned by Texas Corp.The Butte shares were acquired in 2015 for $160,000.At the exchange date, Butte common shares have a fair value of $90 per share, and the patent had a carrying value of $320,000 on Texas's books.Carter should record the patent at

• A)$320,000.
• B)$270,000.
• C)$180,000.
• D)$160,000.

---

Definitions:

Rewards

Rewards are benefits, compensations, or acknowledgments given in response to actions or behaviors deemed desirable or commendable.

George Homans

An American sociologist known for his work in developing social exchange theory.

Success

The achievement of a goal or the attainment of higher status or position, often measured by factors such as wealth, respect, or fame.

Deprivation-Satiation

A concept that describes the dynamic between the experience of lacking something and the fulfillment of having one's needs or desires met.