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GarryVolchara [31]
2 years ago
13

True or false: The cost of land owned by a business is recorded in the Land account and this account is classified as an expense

.
Business
2 answers:
astraxan [27]2 years ago
8 0

Answer: False

Explanation: The reason to this statement being false is because land is an asset account.

Vedmedyk [2.9K]2 years ago
4 0

Its is true that the cost of land owned by a business is recorded in the Land account and this account is classified as an expense.

<h3>What is an expense?</h3>

An expense is referred to as the operating cost or capital of a business. It is all the money spent in the production process.  It is recorded in the income statement.

This includes the cost of purchasing land used for the business.

Therefore, the cost of land owned by a business is recorded in the Land account and this account is classified as an expense.

For more details on expense kindly check

brainly.com/question/25530648

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rjkz [21]
Steve owns a bike store, his total costs are $1.2 million per year. Last year, Steve sold 1,200 bikes. Steve's average total cost was $1,000 per bike.

To solve: take the total costs of $1.2 million and divide it by the number of bikes sold, $1,200
Average total cost = 1,200,000/1,200
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4 0
3 years ago
In a _________________________ economy, the individuals and the government share in the economic decision-making process. These
VladimirAG [237]

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2 years ago
Need help with this question
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8 0
3 years ago
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Answer:

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Corporate finance -

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