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O'Brien's Construction Plc Exchanged Equipment That Had a Book Value

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O'Brien's Construction Plc exchanged equipment that had a book value of £40 000 for a truck that had a book value (in the other entity's books) of £38 000.The fair value of the equipment is £45 000 and the fair value of the truck is £48 000.Further cost incurred to prepare the truck for use by O'Briens was £700 for signage.What is the acquisition cost of the truck?

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Permissible

That which is allowed or authorized by law, ethics, or some other governing body.

Hedonistic Utilitarian

A branch of utilitarian ethics focused on maximizing pleasure and minimizing pain as the criteria for determining the moral rightness of actions.

Satisfaction of Preferences

The achievement of a state where one's desires or preferences are fulfilled or met.

Paternalists

Individuals or entities that exercise authority by making decisions for others, purportedly in their best interests, often without their consent or against their wishes.

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