A Company Purchased Property for $100,000

question 75

Multiple Choice

A company purchased property for $100,000.The property included a building,equipment and land.The building was appraised at $62,000,the land at $45,000,and the equipment at $18,000.What is the amount of cost to be allocated to the building in the accounting records?

• A)$0.
• B)$49,600.
• C)$62,000.
• D)$100,000

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Definitions:

Stage Theories Of Development

Theoretical perspectives which propose that development occurs in distinct and identifiable stages over a person's lifespan.

Specified Stages

Predetermined phases or periods within a process or development, often characterized by specific features or tasks.

Previous Stage

A prior phase or condition in a sequence or development process.

Personal Responsibility

The idea that individuals are accountable for their actions and the consequences that follow.