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Which of the following expenditures would be expensed on an income statement immediately when incurred? a) capital expenditure b) cash expenditure c) revenue expenditure d)
Which of the following expenditures would be expensed on an income statement immediately when incurred?
a) capital expenditure b) cash expenditure c) revenue expenditure d) All of the above would be expensed immediately when incurred
A company purchased land for $80,000. They were required to pay back taxes of $5,000 and incurred legal fees of $2,000. They also paid $250,000 to build a warehouse on the land. What is the cost of the land that would be recorded on the balance sheet?
a) $337,000 b) $80,000 c) $85,000 d) $87,000
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