All amounts paid to acquire a long lived-asset and to get it ready for its intended use are referred to as:

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The cost of an asset includes all amounts paid to acquire and prepare the asset for its intended use. This includes the purchase price, any taxes, and any other costs incurred to get the asset ready for use. The cost of an asset is used to determine its initial value on the company's balance sheet and is also used to calculate depreciation expense over the asset's useful life. A, B, and C are not correct because they do not accurately describe the concept of the cost of an asset.

All Amounts Paid to Acquire a Long Lived-Asset and to Get