The Mac Company Has Four Plants Nationwide That Cost $450

question 43

Multiple Choice

The Mac Company has four plants nationwide that cost $450 million.Accumulated depreciation on the plants is $100 million at December 31, 2022.The current fair value of the plants at that date is $300 million.The plants will be reported on the December 31, 2022 balance sheet at

• A)$350 million.
• B)$700 million.
• C)$300 million.
• D)$600 million.

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Definitions:

Engineering Expertise

Specialized knowledge and skills in the field of engineering that contribute to the design, construction, and maintenance of structures, systems, or products.

Environmental

Pertaining to the natural world and the impact of human activity on its condition.

CAD Requirements

Specifications and criteria needed for the effective use of computer-aided design technology in drafting and design processes.

Holding Cost

The expenses associated with storing unsold goods or materials, including warehouse space, insurance, spoilage, and opportunity costs.