Forest Grove Industries Has Long-Lived Tangible Assets with a Cost

question 254

Multiple Choice

Forest Grove Industries has long-lived tangible assets with a cost of $350,000;its Accumulated Depreciation account has a balance of $110,000.Which of the following statements is correct?

• A)The carrying value of long-lived assets is $240,000.
• B)The market value of long-lived assets is $350,000.
• C)The carrying value of long-lived assets is $350,000.
• D)The market value of long-lived assets is $460,000.

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