A company purchased property for $ 300,000. The property included an acre of land valued at $ 50,000, a building valued at $ 150,000, and equipment valued at $ 125,000. The above transaction may be referred to as a

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A basket purchase refers to the acquisition of multiple assets for a single purchase price, which is the case here with land, building, and equipment being bought together for $300,000.

A Company Purchased Property for $ 300,000