If the Book Value of an Asset Is $12,500 and the Accumulated

question 25

Multiple Choice

If the book value of an asset is $12,500 and the accumulated depreciation is $3,500,the original cost of the asset is

• A) $16,000.
• B) $9,500.
• C) $9,000.
• D) $7,500.

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Definitions:

Conspicuous Consumption

The act of buying and using products to make a statement about social status rather than to meet the basic needs.

Closed System

A social system in which status is based on attributes ascribed at birth.

Ascribed Status

Attributes (advantages and disadvantages) assigned at birth (e.g., sex).

Intelligence Quotient

A measure of a person's intellectual abilities in relation to their age group, typically assessed by standardized tests.