ER Received a Building as a Donation at No Cost

question 41

Multiple Choice

ER received a building as a donation at no cost, except for transfer costs and some ordinary repair costs. The company agreed to start operations within one year with an expected payroll for 1,000 employees. The preferred financial accounting at the transfer date is for ER to:

• A) record the building at its current market value plus transfer costs and repair costs.
• B) record the building at its current market value less transfer and repair costs.
• C) make only a memorandum entry (i.e. no journal entry) to reflect that there was no acquisition cost.
• D) record the building at the sum of transfer costs and repair costs.
• E) record the building at market value plus transfer costs.

Understand the fundamental role and nature of enzymes in catalyzing biochemical reactions.

Comprehend the concept of enzyme-substrate specificity and the characteristics of chemical reactions facilitated by enzymes.

Identify the factors affecting enzyme activity including pH, temperature, and presence of inhibitors or activators.

Recognize the sources and types of enzymes involved in the human digestive system.