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A business purchased land in 2017 for $400,000. The value of the land today is $900,000. The company would like to recognize a gain on

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A business purchased land in 2017 for $400,000. The value of the land today is $900,000. The company would like to recognize a gain on land of $500,000. If they company recorded the gain which of the following is true? a) Historical cost - violated b) Time period (Periodicity) - violated c) Separate entity - violated d) Full disclosure - violated e) Unit-of-Measure - violated

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