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:

Reserve Requirements

Regulations set by central banks determining the minimum amount of reserves that must be held by a commercial bank, a repeat of the Fed's specific requirement but applicable globally.

Depository Institutions Deregulation

The legislative measures taken to reduce regulation over banks and other depository institutions to enhance their ability to compete and innovate.

Monetary Control Act

A law intended to regulate banking and manage the money supply, possibly referring to specific legislation like the Monetary Control Act of 1980 in the United States, which influenced the Federal Reserve's control over monetary policy.

Glass-Steagall Act

A U.S. law enacted in 1933, which separated commercial banking from investment banking, repealed in 1999.