A Plot of Land Was Purchased for $120,000 and Had

question 2

Multiple Choice

A plot of land was purchased for $120,000 and had $10,000 of past due property taxes on it.Non-refundable taxes on the purchase were $1,400 and the title search cost $500.The capitalized cost of the land was

• A)$120,000.
• B)$121,900.
• C)$130,000.
• D)$131,900.

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Definitions:

Physical Memory

The actual hardware that stores data on a computer, such as RAM (Random Access Memory) and ROM (Read-Only Memory).

Climate

The average weather conditions in an area over a long period, including temperature, precipitation, and wind.

Political Boundaries

Invisible lines defining the geographical territory of a state, nation, or administrative unit, often established through legal or political agreements.

Soil Type

refers to the classification of soil based on its physical and chemical properties which influence its fertility and ability to support plant life.