When old equipment is traded in for a new equipment, the difference between the list price and the trade-in allowance is called boot.

Name: When old equipment is traded in for a new equipment, the difference between the list price and the trade-in allowance is called boot.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This statement is true. The boot is the difference between the list price (the price of the new equipment) and the trade-in allowance (the value of the old equipment that is being used as a trade-in).

When Old Equipment Is Traded in for a New Equipment