Classify each of the following costs associated with long-lived assets as one of the following:
-Interest on money borrowed to finance construction of new office building
A)Buildings
B)Machinery and equipment
C)Land
D)Land improvements

Question

Quizplus · Accepted Answer

Interest costs are associated with the construction of a new office building, which is classified as a building under long-lived assets.

Classify Each of the Following Costs Associated with Long-Lived Assets