In a Decision Concerning Replacing Old Equipment with New Equipment

question 134

True/False

In a decision concerning replacing old equipment with new equipment, the book value of the old equipment can be considered an opportunity cost.

---

Definitions:

Recognizing Accomplishments

The act of acknowledging and valuing the achievements or successes of individuals or groups.

Positive Reinforcer

A stimulus or reward that, when presented after a behavior, increases the likelihood of that behavior being repeated.

Field of Psychology

The scientific study of the human mind and its functions, especially those affecting behavior in a given context.

Mental Illnesses

Mental disorders comprising various psychological states that significantly interfere with an individual's cognitive, emotional, or social abilities.