The Land account would include all of the following costs except
A) lawyers' fees.
B) accrued taxes paid by the purchaser.
C) the cost of building a fence.
D) the cost of tearing down a building.

Question

Quizplus · Accepted Answer

The Land account includes the cost of purchasing the land, any necessary legal fees, accrued taxes paid by the purchaser, and the cost of demolishing any existing structures on the land. However, building a fence would be considered a separate cost and would not be included in the Land account.

The Land Account Would Include All of the Following Costs