A Company Bought a New Display Case for $42,000 and Was

question 130

Multiple Choice

A company bought a new display case for $42,000 and was given a trade-in of $2,000 on an old display case,so the company paid $40,000 cash with the trade-in.The old case had an original cost of $37,000 and accumulated depreciation of $34,000.If the transaction has commercial substance,the company should record the new display case at:

• A)$ 2,000.
• B)$ 3,000.
• C)$40,000.
• D)$42,000.
• E)$43,000.

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Definitions:

General Occupational Themes

These themes refer to broad categories of vocational interests used to guide individuals in identifying careers that align with their interests and strengths.

Holland Codes

A theory and classification system of personality types and environments invented by John L. Holland, used primarily to assess career interests and best job fit.

Work Style

An individual's preferred way of performing tasks or their method of working and interacting in a professional context.

Interest Inventory

An assessment tool used to identify a person's interests in order to guide them towards compatible career paths or educational fields.