Ten Years Ago a Corporation Purchased a Building for $100,000

question 192

Multiple Choice

Ten years ago a corporation purchased a building for $100,000.At that time,the corporation felt that the business was worth $125,000.The current market value of the business is $500,000.The building has been assessed at $475,000 for property tax purposes.At which amount should the corporation record the building in its accounting records?

• A)$100,000
• B)$125,000
• C)$475,000
• D)$500,000

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Definitions:

Trade Barriers

Measures implemented by governments to regulate or restrict international trade, such as tariffs, quotas, and regulations, aiming to protect domestic industries.

WTO

The World Trade Organization; an intergovernmental organization that regulates international trade.

Trade Barriers

are government-imposed restrictions on the free exchange of goods and services between countries, including tariffs, quotas, and regulations.

Protect Human

A principle or practice aimed at safeguarding individuals' rights, well-being, and dignity in various contexts, including employment and social interactions.