A state acquired a large parcel of forest land, which at some time in the future, it

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A state acquired a large parcel of forest land, which at some time in the future, it expects to license to timber companies so that they can harvest and sell the trees. For now, however, the land is used primarily for recreation. The state maintains hiking trails and camping facilities. Should the forest land be considered an investment?

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Government and Not-for-Profit Accounting Concepts and Practices

ISBN: 978-1119495857

8th edition

Authors: Michael H. Granof, Saleha B. Khumawala, Thad D. Calabrese, Daniel L. Smith

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