Which of the Following Would Be Included in the Cost

question 90

Multiple Choice

Which of the following would be included in the cost of a constructed building?

• A)Purchase price of the building
• B)Payments for material, labor, and overhead
• C)Survey and legal fees
• D)Realtor commissions

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Definitions:

Principal

The primary party involved in a contract or transaction, or the amount of money originally invested or loaned, before interest.

Agent

A person or entity authorized to act on behalf of another, usually in business transactions or negotiations.

Separate Accounts

Financial accounts that are segregated for individual investors, common in insurance and investment management.

Principal's Funds

Resources or capital belonging to the principal in a transaction or investment scenario, as opposed to the agent's or broker's funds.