Select the Account to Which Each of the Following Costs

question 115

Multiple Choice

Select the account to which each of the following costs would be debited. (Choices may be used more than once.)
-annual painting costs of an office building

• A) Land
• B) Land Improvements
• C) Buildings
• D) Machinery and Equipment
• E) Expense Account

---

Definitions:

Average Tax Rates

The ratio of the total amount of taxes paid to the total income, indicating the percentage of income that goes towards taxes.

Regressive Tax

A tax system that takes a smaller percentage of income from individuals as their income increases, often considered less fair to lower-income earners.

Payroll Taxes

Financial obligations required from both employers and employees, pegged to a fraction of the payroll expenses incurred by employers.

Federal Tax Revenues

The income received by the federal government from taxes and other sources used to fund public expenditures.