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Indicate Whether Each of the Following Expenditures Should Be Classified

Question 186

Matching

Indicate whether each of the following expenditures should be classified as land (L), land improvements (LI), buildings (B), equipment (E), or none of these (X).

Premises:
Clearing costs
Driveway cost
Computer installation cost
Architect's fee for building plans
Surveying costs
Cost of assembly line trial run
Property taxes paid after purchase
Grading costs
Insurance and freight on computer purchased
Cost of lighting for parking lot
Landscaping cost
Material and labor costs incurred to construct factory
Cost of tearing down a warehouse on land just purchased
Utilities cost during first year
Cost of building wing
Sales tax on file cabinets purchased
Real estate commissions on land purchased
Contractor's fee for building construction
Cost to put up chain-link fence
Accrued taxes on land purchased
Responses:
land
land improvements
buildings
equipment
none of these

Correct Answer:

Clearing costs
Driveway cost
Computer installation cost
Architect's fee for building plans
Surveying costs
Cost of assembly line trial run
Property taxes paid after purchase
Grading costs
Insurance and freight on computer purchased
Cost of lighting for parking lot
Landscaping cost
Material and labor costs incurred to construct factory
Cost of tearing down a warehouse on land just purchased
Utilities cost during first year
Cost of building wing
Sales tax on file cabinets purchased
Real estate commissions on land purchased
Contractor's fee for building construction
Cost to put up chain-link fence
Accrued taxes on land purchased
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