QUESTION 62 Liabilities O a- are future economic benefits. Ob- are existing debts and obligations. C are things of value used by the business in its operation. O d. possess service potential. QUESTION 63 Dye Hotels buys land for $40,000 on 12/31/2019. As of 3/31/2020, the land has appreciated in value to $40,400. On 12/31/2020, the land has an appraised value of $40,900. By what amount should the Land account be increased in 2020? a. $500 b. $400 C. SO Od. $900