During the Year,a Wealthy Local Merchant Donated a Building to the City

question 26

Multiple Choice

During the year,a wealthy local merchant donated a building to the city of Pasedena.The original cost of the building was $300,000.Accumulated depreciation at the date of the gift amounted to $250,000.The appraised fair market value of the donation at the date of the gift was $600,000,of which $40,000 was the value of the land on which the building was situated.At what amount should Rosewood record this donated property in the General Fund?

• A) $50,000.
• B) $300,000.
• C) $600,000.
• D) $0.

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Definitions:

Moro Reflex

An involuntary reflex found in infants, involving sudden arm flapping and crying when startled.

Startle Reflex

A sudden involuntary reaction to a surprise or unexpected stimulus, often involving physical movements.

Lateralization

The tendency for certain processes or functions to be more dominant in one hemisphere of the brain than in the other.

Hemispheres

The two halves of the brain or the Earth, divided by the equator (for the Earth) or the longitudinal fissure (for the brain), each responsible for different functions.