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enting purposes. Which of the following statements is true regarding this board of directors and the CEO of Techno are legally lable for thie lhegal actvity ch no Company keeps separate records for financial accounting and tax ation? s between these two accounting systems are normal and expected This is a direct violation of GAAP is a common example of how the records differ E Both B and D are true statements 35 A company paid $150,000, plus a 6% commission and $4,000 in closing costs for a property. The property included land appraised at $87,500, land improvements appraised at $35,000 and a building appraised at $52,500. What should be the allocation of this property's costs in the company's accounting A. Land $79,500; Land improvements, $32,600; Building, $47,700 records? B. Land $81,500; L and Improvements, $32,600; Building. $48.900 46,200 D. Land $75,000; Land Improvements, $30,000; Building, $45,000 E. Land $87,500; Land Improvements;$35,000; Building: $52,500 6.When a bond sells at a premium: A. The bond pays no interest B. The contract rate is equal to the market rate C. The contract rate is below the market rate D. It means that the bond is a zero coupon bond E. The contract rate is above the market rate 3 37 A Contract rate is above the market rate n short-term life A bond sells at a discount when the