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:

Increased Endurance

Increased endurance refers to the ability to sustain prolonged physical or mental effort, often achieved through consistent training or exercise.

Growth

The process of increasing in size, capacity, or complexity, applicable both to physical development and personal development.

Limbic System

A complex system of nerves and networks in the brain, controlling basic emotions and drives.

Puberty

The period in human development during which a child's body transitions into an adult body capable of sexual reproduction.