Scandsia Ltd

question 49

Multiple Choice

Scandsia Ltd.owns a machine that it purchased on Jan 1,2016 for $750,000.The machine had an estimated useful life of 5 years and an estimated residual value of $50,000.The company uses straight-line depreciation and records monthly depreciation.The machine was sold on December 31,2019 for $200,000.What is the carrying value (net book value) at the date of sale?

• A)$10,000
• B)$150,000
• C)$190,000
• D)$560,000

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Definitions:

Individualistic Cultural Outlook

A perspective prevalent in cultures that value personal independence and self-expression over collective goals and conformity.

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The qualitative or characteristic features of an individual, including traits, behaviors, and personal qualities.

The Self

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Variations in the customs, beliefs, practices, and social behavior between different societies or groups, often leading to diverse worldviews and ways of life.