Answer:
c. $90,700
Explanation:
The computation of the cost of the land is shown below:
= Purchase cost of land + property taxes + attorney fees + land graded cost
= $85,000 + $2,500 + $1,000 + $2,200
= $90,700
We added the property taxes, attorney fees, and the land graded cost to the purchase cost of the land. We do not include the parking lot expenses
Answer: Option (B)
Explanation:
From the given options we can state that , option (B) is correct. Brand socialization is referred to as or known as the measure or scale of how effectively an organization or a company tends to engage with its several or various stakeholders which are mostly online and act in mutual profitable and beneficial exchange of data and information.
The lower cost or market approach is (C) required under GAAP for companies that use LIFO or retail inventory.
<h3>
What is market approach?</h3>
- The market approach is a method of evaluating an asset's worth based on the selling price of comparable assets.
- Along with the cost technique and discounted cash-flow analysis, it is one of three main valuation methodologies (DCF).
- Companies that use LIFO or retail inventory are obligated by GAAP to use the lower cost or market method.
- A realtor, for example, can gather information on comparable real estate sales in close vicinity to a client's property and modify those values to account for differences in land area and building square footage to arrive at a market-based valuation for the targeted property.
Therefore, the lower cost or market approach is (C) required under GAAP for companies that use LIFO or retail inventory.
Know more about the market approach here:
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The complete question is given below:
The lower cost or market approach is _____ for companies that use _____.
a. optional under GAAP; LIFO or the retail inventory
b. optional under GAAP; any method of inventory valuation
c. required under GAAP; LIFO or the retail inventory
d. required under GAAP; any method of inventory valuation
Answer:
d. 10.6% higher
Explanation:
Given that;
Real GDP = $13.2 trillion
Nominal GDP = $14.6 trillion
GDP deflator = (Nominal GDP/Real GDP)× 100)
Hence,
GDP deflator = (14.6 / 13.2 ) × 100
GDP deflator = 110.6%
Thus,
= 110.6 - 100
= 10.6% higher
