A Company Purchased Property for $100,000

question 86

Multiple Choice

A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $62,000; the land at $35,000, and the parking lot at $18,000. Land should be recorded in the accounting records with an allocated cost of:

• A) $0.
• B) $100,000.
• C) $35,000.
• D) $30,435.
• E) $46,087.

---

Definitions:

Emotional Conflicts

Emotional conflicts arise when there are opposing emotions within an individual or between individuals, often leading to tension and difficulty in making decisions or maintaining relationships.

Substantive Conflict

A disagreement among individuals or groups in a workplace focusing on significant differences about job-related issues such as goals, tasks, and resource allocation.

Allocation of Resources

The process of distributing available resources, such as time, money, and manpower, among various projects or departments within an organization.

Role Ambiguities

Situations where roles and responsibilities are unclear, often leading to confusion and inefficiency in organizational settings.