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A plant site donated by a city to ABC Company that plans to open a new factory should be recorded on the ABC company's books

A plant site donated by a city to ABC Company that plans to open a new factory should be recorded on the ABC company's books at

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the nominal cost of taking title to it.

one dollar (since the site cost nothing but should be included in the balance sheet).

its fair value.

the value assigned to it by the company's directors.

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