Which of the Following Accounts Would Not Be Reported in the Property,Plant,and

question 147

Multiple Choice

Which of the following accounts would not be reported in the Property,Plant,and Equipment section of a balance sheet?

• A)Accumulated Depreciation-Buildings
• B)Buildings
• C)Depreciation Expense-Buildings
• D)Land

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Definitions:

Trading Security

A financial asset that a company holds primarily for the purpose of selling it in the short term to profit from price fluctuations.

Fair Value

The estimated market value of an asset or liability, based on current market conditions.

Comparability

A financial accounting principle that enables users to easily evaluate one company's financial statements alongside those of another.

Companies

Business entities formed to engage in commercial, industrial, or professional activities, either for profit or non-profit purposes.