Bachman Company Plans to Develop a Shopping Center What Amount Should Be Recorded as the Cost of the Quarter,the

question 168

Multiple Choice

Bachman Company plans to develop a shopping center.In the first quarter,the following amounts were spent:
$$\begin{array} { | l | r | } \hline \text { Acquisition of land } & \$ 24,000 \\\hline \text { Surveys and legal fees } & 1500 \\\hline \text { Land clearing } & 1100 \\\hline \text { Fencing } & 6000 \\\hline \text { Install lighting and signage } & 1860 \\\hline\end{array}$$ What amount should be recorded as the cost of the land in the company's books?

• A) $32,600
• B) $26,600
• C) $28,460
• D) $31,100

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Definitions:

Innate Understanding

An immediate grasp or comprehension of concepts or situations without the need for conscious reasoning, often considered a natural or inborn ability.

Sensorimotor Substage

A period in Jean Piaget's theory of cognitive development where infants explore the world through their senses and motor activities.

Secondary Circular Reactions

A developmental phase in infants characterized by repetitive actions aimed at reproducing interesting effects.

Tertiary Circular Reactions

A stage in Piaget's theory of cognitive development where toddlers (around 12-18 months) experiment with new ways of playing and manipulating objects, showing the beginning of intentional, goal-directed behavior.