Nobells Inc

question 8

Multiple Choice

Nobells Inc. has acquired a property that included both land and a building for $500,000. The company hired an appraiser who has determined that the market value of the land is $300,000 and that of the building is $400,000. At what amount should the company record the cost of building?

• A)$147,368
• B)$285,714
• C)$269,125
• D)$214,285

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Definitions:

Summary Judgment

A legal determination made by a court without a full trial, typically when there is no dispute as to the material facts of the case.

Genuine Issue of Material Fact

A dispute over a fact that is significant enough to affect the outcome of a legal case, preventing summary judgment.

Voir Dire

A legal procedure in courts where jurors are questioned by lawyers and judges to determine any biases or inability to serve impartially.

Cyber-Jurisdiction

The legal authority of a court to oversee and adjudicate issues occurring within the realm of electronic networks and digital domains.