A Machine Is Purchased for $120 000

question 18

Multiple Choice

A machine is purchased for $120 000.It is estimated that it has a useful life of 4 years and will then be sold for $8000.Using the straight-line method the carrying value of the machine at the end of the third year of the machine's useful life is:

• A)$28 000
• B)$42 000
• C)$36 000
• D)$60 000

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Definitions:

Mutual Interpersonal Expectations

The shared beliefs or standards regarding how individuals should behave towards each other in a social or professional context.

Universal Ethical Principles

Fundamental ethical concepts and values that are widely accepted across different cultures and societies as a basis for moral conduct.

Enlightened Egoism

A philosophical concept suggesting individuals should act in their own self-interest but also consider the long-term consequences of their actions on others, promoting mutual benefit.

Long-Term Self-Interest

The consideration of one's well-being in the future, leading to decisions that may sacrifice immediate gratification for future benefits.