Nobells Corporation Has Acquired a Property That Included Both Land

question 18

Multiple Choice

Nobells Corporation has acquired a property that included both land and a building for $500,000.The corporation 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 corporation record the cost of land?

• A)$147,368
• B)$52,632
• C)$250,000
• D)$214,286

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Definitions:

Content

The information, subjects, or thematic elements contained within a work or conveyed by a message.

Standard Form I

Generally refers to a universally accepted or conventional format or structure for a particular type of document or argument, though without more context, its specific application in this case is unclear.

Quantity

A property that can exist as a multitude or magnitude, often measurable, that describes the amount or number of something.

Quality

The degree of excellence or distinction of something, often judged according to its attributes or merits.