Which of the following statements about an investment in undeveloped land is false?
A) An investor can elect to capitalize interest expense on a mortgage incurred to purchase the undeveloped land.
B) An investor can elect to capitalize property taxes on undeveloped land.
C) An investment in undeveloped land is considered a liquid asset.
D) Gain recognized on the sale of undeveloped land held as an investment is capital gain.
Correct Answer:
Verified
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