If a Parcel of Land That Was Originally Acquired for $85,000

question 12

Multiple Choice

If a parcel of land that was originally acquired for $85,000 is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as easily being worth $140,000, and is sold for $137,000, the land should be recorded in the purchaser's books at:

• A) $95,000.
• B) $137,000.
• C) $138,500.
• D) $140,000.
• E) $150,000.

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Definitions:

Sensory Regulation

The process of managing incoming sensory stimuli to maintain an optimal level of arousal and performance.

Categorization

The process in which ideas and objects are recognized, differentiated, and understood.

Dishabituation Technique

A method used to renew attention or response to a stimulus that has previously become habituated, often by presenting a new or changed stimulus.

Sequential Touching

A methodical approach to exploring objects by touching them one after another in a specific order.