5. The cost of tearing down a building on land just purchased should be debited to the Land account. debited to the Land Improvements account. C) debited to the Building account. D) expensed immediately. A) B) 6. The book value of an asset is equal to the A) asset's market value less its historical cost. B) blue book value relied on by secondary markets. C) replacement cost of the asset. D) asset's cost less accumulated depreciation