Nielsen Auto Parts Had Beginning Net Fixed Assets of $218,470

question 53

Multiple Choice

Nielsen Auto Parts had beginning net fixed assets of $218,470 and ending net fixed assets of $209,411. During the year, assets with a book value of $6,943 were sold. Depreciation for the year was $42,822. What is the amount of net capital spending?

• A) $33,763
• B) $40,706
• C) $58,218
• D) $65,161
• E) $67,408

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Definitions:

Samuel Gompers

A British-born American labor union leader who founded the American Federation of Labor and played a key role in advocating for workers’ rights in the late 19th and early 20th centuries.

American Federation of Labor

A national federation of labor unions in the United States, founded to advocate for improved wages, hours, and working conditions for laborers.

Nineteenth Century

The period from January 1, 1801, to December 31, 1900, characterized by significant industrial, cultural, and political changes worldwide.

Fourteenth Amendment

An amendment to the U.S. Constitution, adopted in 1868, that granted citizenship to all persons born or naturalized in the United States, including former slaves, and provided equal protection under the laws.