Donner Company Is Selling a Piece of Land Adjacent to Its

question 168

Multiple Choice

Donner Company is selling a piece of land adjacent to its business premises.An appraisal reported the market value of the land to be $220,000.The Focus Company initially offered to buy the land for $177,000.The companies settled on a purchase price of $212,000.On the same day,another piece of land on the same block sold for $232,000.Under the cost concept,at what amount should the land be recorded in the accounting records of Focus Company?

• A)$177,000
• B)$212,000
• C)$220,000
• D)$232,000

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Definitions:

Circumplex Model

A model describing human emotions as existing in a two-dimensional space, with levels of arousal and valence defining the axes.

Valence

The intrinsic attractiveness or averseness of an event, object, or situation.

Arousal

A physiological and psychological state of being awake or reactive to stimuli, involving the activation of certain physiological pathways and cognitive processes.

Two-factor Theory

A psychological theory suggesting emotions are based on physiological arousal and cognitive labels.