Acme Purchased a Property That Included Both Land and a Building

question 33

Multiple Choice

Acme purchased a property that included both land and a building for $200,000.Acme hired an appraiser who determined that the market value of the land was $140,000 and the market value of the building was $50,000.
-At what amount should Acme record the land cost?

• A) $147,368
• B) $52,632
• C) $200,000
• D) $140,000

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Definitions:

Vascular

Pertaining to blood vessels or the transport system for blood flow in the body.

Parasympathetic

refers to the part of the autonomic nervous system that conserves energy as it slows the heart rate, increases intestinal and gland activity, and relaxes sphincter muscles in the gastrointestinal tract.

Skeletal

Pertains to the skeleton or bony framework of the body, which supports and gives shape to the body.

Autonomic Nervous System

A division of the peripheral nervous system that regulates involuntary functions such as heart rate, digestion, and respiratory rate.