ABC CoPurchased a Parcel of Land for $300,000

question 207

Multiple Choice

ABC Co.purchased a parcel of land for $300,000.It paid attorney fees of $2,000 to verify title to the land.In addition,it paid a broker's fee of $5,000 to help find a suitable parcel of land.This parcel of land should be recorded in the accounting records for:

• A) $300,000.
• B) $302,000.
• C) $305,000.
• D) $307,000.

---

Definitions:

Dictionary of Occupational Titles

A publication that categorizes and describes a wide range of occupations, detailing responsibilities, skills required, and working conditions.

Position Analysis Questionnaire

A standardized tool used to evaluate job characteristics and determine job requirements, often for the purpose of job classification and salary determination.

Qualitative Job Analysis

The process of analyzing a job based on subjective measures, such as employee opinions and experiences, rather than quantitative data.