Grogle Company Had to Calculate Book Value on Its Die

question 78

Multiple Choice

Grogle Company had to calculate book value on its die cutting machine.The company paid $32,000 for the equipment on January 1,2012,but its current appraised value is $46,000.On December 31,2015,accumulated depreciation on the machine is $12,000.What is Grogle Company's book value on the die cutting machine at December 31,2015?

• A)$14,000
• B)$32,000
• C)$46,000
• D)$20,000
• E)$34,000

---

Definitions:

Pauper Labor Fallacy

The incorrect belief that importing goods from countries with lower wage levels hurts the economy of a country with higher wage levels.

Sweatshop Labor Fallacy

The misconception that sweatshop labor is entirely harmful and provides no benefit to workers in developing countries.

Heckscher-Ohlin Theory

An economic theory that suggests countries export what they can most efficiently and abundantly produce.

Absolute Advantage

The ability of a country, company, or individual to produce a good or provide a service more efficiently than competitors.