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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

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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