A company has purchased a tract of land. It expects to build a production plant on the

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A company has purchased a tract of land. It expects to build a production plant on the land in approximately 5 years. During the 5 years before construction, the land will be idle. The land should be reported as:

(a) property, plant, and equipment.

(b) land expense.

(c) a long-term investment.

(d) an intangible asset.

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Financial Accounting

ISBN: 9781119298229,9781119305842

10th Edition

Authors: Jerry J. Weygandt , Donald E. Kieso , Paul D. Kimmel

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Question Posted: Feb 07, 2024 03:01 AM

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A company has purchased a tract of land. It expects to build a production plant on the

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c Longterm investments include longterm assets such as land that a company ...View the full answer

Financial Accounting

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