The historical cost principle requires that companies record plant assets at cost. When computing the cost of a land, the cost should include all of the following except: A. the cash purchase price B. closing costs such as title and attorney fees C. real estate broker commissions D. accrued property taxes and other liens assumed by the purchaser E. land improvement such as structural additions (e.g., building)

The historical cost principle requires that companies record plant assets at cost. When computing the cost of a land, the cost should include all of the following except: A. the cash purchase price B. closing costs such as title and attorney fees C. real estate broker commissions D. accrued property taxes and other liens assumed by the purchaser E. land improvement such as structural additions (e.g., building)