The Land account would include all of the following costs except
A)grading the land.
B)lawyers' fees
C)the cost of adding a parking lot.
D)the cost of tearing down a building.

Question

Quizplus · Accepted Answer

The cost of adding a parking lot is not included in the Land account because it is considered a land improvement rather than a part of the land itself. Land improvements have a limited useful life and are depreciated over time, unlike land, which is not depreciated.

The Land Account Would Include All of the Following Costs