Land Acquired So It Can Be Resold in the Future

question 102

Multiple Choice

Land acquired so it can be resold in the future is listed on the balance sheet as a (n)

• A) fixed asset
• B) current asset
• C) investment
• D) intangible asset

---

Definitions:

Common Interest

A shared personal or professional enthusiasm, concern, or preference among a group of people, often forming the basis for social or occupational connections.

Current Event

A happening, incident, or situation occurring at the present time or most recently.

Listen

To give attention with the ear to someone or something in order to hear and understand sounds or information.

Active Interest

Showing enthusiastic engagement and a high degree of attention in a particular subject or activity.