Equipment with an Estimated Market Value of $30,000 Is Offered

question 188

Multiple Choice

Equipment with an estimated market value of $30,000 is offered for sale at $45,000. The equipment is acquired for $15,000 in cash and a note payable of $20,000 due in 30 days. The amount used in the buyer's accounting records to record this acquisition is

• A) $30,000
• B) $35,000
• C) $15,000
• D) $45,000

---

Definitions:

Managing Money

The process of budgeting, saving, investing, spending, or otherwise overseeing the capital usage of an individual or group.

Life Expectancy

The average period that an individual is expected to live, based on demographic factors and health conditions.

Widowers

Men who have lost their spouse through death and have not remarried.

Assisted Care Facilities

Residential settings that provide personal care and health services for individuals who cannot live independently due to health or age-related reasons.