Scandsia Ltd

question 30

Multiple Choice

Scandsia Ltd. owns a machine that it purchased on Jan 1, 2010 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, 2013 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:

Timeliness, Cost

Refers to the balance between completing tasks or delivering services promptly and managing the expenses involved efficiently.

Performance Appraisal

The formal assessment of an employee's job performance, identifying areas of strengths and opportunities for improvement.

Wrongful Discharge

The unlawful termination of an employee's contract of employment against the law or the terms specified in the contract.

Management by Objectives

A management strategy in which employees and managers collaborate to set, monitor, and achieve specific objectives.