A Plant Site Donated by a City to a Company

question 30

Multiple Choice

A plant site donated by a city to a company that plans to open a new factory should be recorded on the company's books at

• A) The value assigned to it by the company's directors
• B) One dollar (since the site cost nothing but should be included in the balance sheet)
• C) The cost of taking title to it
• D) Its fair value

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