Land Was Purchased to Be Used as the Site for the Construction

question 149

Multiple Choice

Land was purchased to be used as the site for the construction of a plant. A building on the property was sold and removed by the buyer so that construction on the plant could begin. The proceeds from the sale of the building should be

• A) classified as other income.
• B) deducted from the cost of the land.
• C) netted against the costs to clear the land and expensed as incurred.
• D) netted against the costs to clear the land and amortized over the life of the plant.

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Definitions:

Positive Emotion

Feelings or emotions that are pleasurable or satisfying such as joy, gratitude, serenity, interest, hope, pride, amusement, inspiration, awe, and love.

Positive Mood

A state of mind or feeling characterized by contentment, happiness, or optimism.

Plodding and Repetitive

Describing tasks or activities that are slow, laborious, and lacking in variety, often leading to boredom or monotony.

Quick and Varied

Describes actions or processes that happen rapidly and involve a wide range of different elements or aspects.