On January 31, 2016, Manning Company Acquired a New Machine

question 1

Multiple Choice

On January 31, 2016, Manning Company acquired a new machine by paying $40,000 cash and agreeing to pay $20,000 annually for four years, beginning on January 31, 2017. Assuming an interest rate of 10%, Manning should record the acquisition cost of the machine on January 31, 2016, at

• A) $120,000.
• B) $109,737.
• C) $103,397.
• D) $102,092.

---

Definitions:

Ethical Standards

Guiding principles that help determine what is right and wrong in personal and professional conduct.

Audience Objections

The concerns, questions, or disagreements raised by an audience or consumers in response to a proposal, presentation, or product offering.

High Price

Refers to the cost of a product or service being significantly above average, often associated with premium quality or exclusivity.

M-commerce

Mobile commerce, which encompasses purchasing and selling goods and services through wireless handheld devices like smartphones and tablets.