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

question 170

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 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. If this transaction has commercial substance, the new machine should be recorded at:

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

---

Definitions:

Reformulated Learned Helplessness

An updated theory on learned helplessness that incorporates the role of attributions in determining how individuals perceive and respond to events of a lack of control.

Personal Helplessness

Personal helplessness describes a state in which an individual feels they have no control over the outcomes in their life, often resulting from repeated failures or a belief in the inevitability of negative events.

Lower Self-esteem

Refers to a lower assessment or evaluation of one's own worth or abilities, often associated with various mental health challenges.

Fear of Failure

An apprehension or anxiety about failing to achieve a goal or succeed in a task, which can inhibit risk-taking and limit opportunities.