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

question 142

Multiple Choice

Classify each of the following costs associated with long-lived assets as one of the following:
-Repairs made to used office equipment

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

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Definitions:

Risks

The potential for experiencing harm or loss associated with an action or decision.

Human Capital Theory

A theory in economics that views individuals' skills, knowledge, and experience as economic assets, suggesting that investment in education and training leads to increased productivity and earnings.

Pay Gap

The disparity in income between different groups of people, typically highlighting differences based on gender, race, or age.

Prior Experience

Previous knowledge or involvement in specific areas or activities before engaging in a current situation or taking on new responsibilities.