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

question 114

Multiple Choice

Classify each of the following costs associated with long-lived assets as one of the following:
-Modifying a building purchased for new business location

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

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Definitions:

Development

Training that augments the skills and knowledge of managers and professionals.

Orientation

Familiarizing newly hired employees with fellow workers, company procedures, and the physical properties of the company.