A Company's Old Machine That Cost $40,000 and Had Accumulated

question 76

Multiple Choice

A company's old machine that cost $40,000 and had accumulated depreciation of $30,000 was traded in on a new machine of like purpose having an estimated 20-year life with an invoice price of $50,000.The company also paid $43,000 cash,along with its old machine to acquire the new machine.The value of new machine should be recorded at:

• A)$40,000
• B)$47,000
• C)$50,000
• D)$53,000
• E)$10,000

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Definitions:

Right to Privacy

The individual's right to keep their personal affairs and choices from public scrutiny, and to protect their personal information from being disclosed.

Meyer v. Nebraska

A 1923 Supreme Court case that struck down a state law restricting the teaching of foreign languages to children, ruling it as a violation of the Fourteenth Amendment’s due process clause.

Public Schools

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Public Education

An education system funded and administered by the government, providing free education to the public from primary to secondary levels.