Ramirez Company Acquires Land for $240000 Cash Ramirez Will Record the Acquisition Cost of the Land as Follow

question 194

Multiple Choice

Ramirez Company acquires land for $240000 cash.Additional costs are as follow. $\begin{array}{lr}\text { Removal of shed } & \$2,000 \\\text { Filling and grading } & 6,000 \\\text { Salvage value of lumber of shed } & 1,000 \\\text { Broker commission } & 4,520 \\\text { Paving of parking lot } & 40,000 \\\text { Closing costs } & 3,400\end{array}$ Ramirez will record the acquisition cost of the land as

• A)$254640.
• B)$257200.
• C)$255920.
• D)$240000.

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Definitions:

Masculine Culture

Culture in which people tend to value traditional roles for men and women, achievement, assertiveness, heroism, and material wealth.

Achievement

The act of accomplishing a goal or reaching a significant milestone through effort, skill, or courage.

Assertiveness

Tendency to make requests, ask for information, and generally pursue one’s own rights and best interests.

Individualistic Cultures

Refer to societies that prioritize the needs and goals of the individual over the group.