Schrock company purchases a new delivery van for $60,000. the sales taxes are $4,500. the logo of the company is painted on the side of the van for $1,200. the van's annual license is $120. the van undergoes safety testing for $220. what does schrock record as the cost of the new van?

Schrock record the $65,920 as the cost of the new van

Explanation:

The computation of cost of the new van is computed below:

= Purchase cost + sales tax + logo cost + safety testing cost

= $60,000 + $4,500 + $1,200 + $220

= $65,920

where,

Purchase cost is $60,000

Sales tax is $4,500

Logo cost is $1,200

Safety testing cost is $220

The van annual license is not included in the cost of new wan. Thus, it is not consider in the computation part.

Hence, Schrock record the $65,920 as the cost of the new van

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the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.