When Replacing an Old Machine with a New Machine, the Purchase

question 40

True/False

When replacing an old machine with a new machine, the purchase price of the old machine is a relevant cost.

---

Definitions:

Balance of Probabilities

A standard of proof in civil trials requiring that a case is more likely to be true than not, essentially over 50% likelihood.

Criminal Matter

A legal issue or case involving violations of public law and the commission of acts that are prohibited and punishable by the state.

Jury

A group of citizens selected according to law, who are sworn to inquire into matters of fact and deliver a verdict based on the evidence presented in a court trial.

Plaintiff

The party who initiates a lawsuit in a court of law against another party, the defendant, seeking legal remedy.