Use the Following Information for Questions

question 60

Multiple Choice

Use the following information for questions
On March 1, 2010, Beck Company purchased land for an office site by paying $270,000 cash.Beck began construction on the office building on March 1.The following expenditures were incurred for construction:

The office was completed and ready for occupancy on July 1.To help pay for construction,
$360,000 was borrowed on March 1, 2010 on a nine percent, three-year note payable.Other than the construction note, the only debt outstanding during 2010 was a $150,000, 10%, six-year note
payable dated January 1, 2010.
-Jakob Corporation uses the fair value model of accounting for its investment property.The fair values of its property were $124,000 and $129,000 at December 2011 and and December 2012 respectively.At December 2012 Jakob should

• A)Recognize a gain of $5,000 in income
• B)Report a gain of $5,000 in other comprehensive income
• C)Defer the gain until realized
• D)none of the above

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Definitions:

Client's Autonomy

The right of clients, especially in healthcare settings, to make informed decisions about their own care and treatment, respecting their independence.

Ethics Committee

A group typically within a healthcare setting or research institution tasked with reviewing and addressing ethical issues and dilemmas that arise.

Confrontation

A situation in which there is a direct or open challenge, dispute, or conflict between individuals or groups.

Patient Advocate

A person who actively supports and promotes the rights and interests of patients, ensuring they receive appropriate care, information, and respect within the healthcare system.