Classify Each of the Following Costs Associated with Long-Lived Assets

question 86

Multiple Choice

Classify each of the following costs associated with long-lived assets as one of the following:
-Cost of grading and leveling land to be used for a new business site

• A)Land improvements
• B)Buildings
• C)Land
• D)Machinery and equipment

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Definitions:

Zinc-Brass

An alloy predominantly made of copper and zinc, used in a variety of decorative and practical applications for its resilience and finish.

Terracotta

A type of earthenware, a clay-based unglazed or glazed ceramic, where the fired body is porous, commonly used for sculptures and pottery.

Sandstone

A sedimentary rock composed mainly of sand-sized mineral particles or rock fragments, often used in building construction.

Laocoön

This term refers to a Trojan priest of Poseidon in Greek mythology, who warned against accepting the Greek wooden horse, and to the famous ancient sculpture depicting Laocoön and his sons being attacked by sea serpents.