Land, Buildings and Equipment Are Acquired for a Lump Sum

question 174

Multiple Choice

Land, buildings and equipment are acquired for a lump sum of $850,000. The market values of the three assets are, respectively, $250,000, $480,000 and $180,000. What is the cost assigned to the equipment?

• A) $150,132
• B) $168,132
• C) $180,000
• D) $209,590

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Definitions:

Carnivore Lifestyle

A way of life or diet that consists exclusively or primarily of animal flesh and tissues, typically observed in animal species that are specialized for hunting or scavenging.

Temperature Range

The spectrum of temperatures within which a particular organism can survive and function.

Precipitation

Any type of water, whether in liquid or solid state, descending from the sky to the surface, encompasses rain, snow, sleet, and hail.

Pine Trees

Coniferous trees of the genus Pinus, known for their needle-shaped leaves and production of cones.