If a Salesperson Says,"This Is a Great Car," but the Car

question 19

True/False

If a salesperson says,"This is a great car," but the car turns out to be a lemon,the salesperson has committed fraud.

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Definitions:

Machinery

Physical assets used in a business operation to manufacture or produce goods.

Gain on Disposal

Gain on disposal refers to the financial profit made from selling an asset for more than its carrying amount on the books.

Market Value

The current price at which an asset or service can be bought or sold in an open market.

Book Value

The book value of an asset is its value on a balance sheet, calculated by subtracting any depreciation, amortization, or impairment costs from its original cost.