The cost of land includes all of the following except
A) real estate brokers' commissions.
B) closing costs.
C) accrued property taxes.
D) parking lots.

Question

Quizplus · Accepted Answer

The cost of land includes real estate brokers' commissions, closing costs, and accrued property taxes, as these are expenses incurred during the purchase of the land. However, parking lots are typically considered improvements to the land rather than part of the cost of acquiring the land itself.

The Cost of Land Includes All of the Following Except