A Mine Is Purchased for $4,000,000

question 49

Multiple Choice

A mine is purchased for $4,000,000.There will be a salvage value of $300,000 when the land is restored after mining is completed.The mine has an estimated 250,000 tons of coal.What is the depletable cost per ton of coal?

• A) $13.33
• B) $16.00
• C) $14.80
• D) Cannot be determined from given information

Understand the relationship between inflation rates and the impact on lenders and borrowers.

Recognize various strategies designed to address unemployment issues within economic policy.

Identify the characteristics and consequences of cyclical unemployment.

Understand the impact of self-evaluation and self-awareness on personal and professional development.

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Definitions:

Cost of Goods Sold

Cost of Goods Sold is the total of all expenses directly related to the manufacturing or purchasing of products that a company sells during a period.

Days in Receivables

Days in Receivables, often referred to as Days Sales Outstanding (DSO), measures the average number of days it takes a company to collect payment after a sale has been made.

Accounts Receivable

This term refers to the money that is owed to a company by its customers for goods or services that have been delivered but not yet paid for.

Credit Sales

Sales made by a business where payment is delayed, allowing the buyer to purchase goods or services on credit.