Magic Company Owns a Fixed Asset with an Original Cost

question 130

Multiple Choice

Magic Company owns a fixed asset with an original cost of $100,000. Magic Company estimates it will use the asset for 4 years, at which time the asset can be sold for $10,000. The book value of the asset after two years of use is:

• A) $100,000
• B) $45,000
• C) $55,000
• D) $50,000

---

Definitions:

Peter Singer

An Australian philosopher known for his work in bioethics, utilitarianism, and animal rights, advocating for ethical living and consideration of suffering in all sentient beings.

Libertarian

A libertarian is an individual who advocates for minimal government involvement in personal and economic matters, emphasizing individual liberty and free-market principles.

Drowning Baby

Often a hypothetical scenario used in moral philosophy to discuss the moral obligations and imperatives in situations of immediate crisis or need.

Moral Obligation

A duty or commitment that arises from ethical or moral principles, compelling an individual to act in a certain way.