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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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Which of the following is a current asset?
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Answer:

D

Explanation:

Current assets are considered short-term assets because they generally are convertible to cash within a firm's fiscal year, and are the resources that a company needs to run its day-to-day operations and pay its current expenses. ...

3 0
3 years ago
the audit expectation gap is caused by unrealistic user expectations. what example would not be included in an unrealistic user
Tomtit [17]

The audit expectation gap is caused by unrealistic user expectations. The auditors provides reasonable gap examples that would not be included in unrealistic user expectations.

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The expectation hole exists while auditors and the public keep distinct beliefs about the auditors' obligations and obligations and the messages conveyed by way of audit reports. apparently, there's an opening between what the public expects and what it virtually receives.

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3 0
2 years ago
Two people see the same thing at the same time yet interpret it differently. In this situation, factors that operate to shape th
defon

Answer:

The answer is A) perceivers

Explanation:

it resides in the perceivers and not in the out side world. This could mainly be due to their different upbringing, social status, education level, religious and cultural factors they have been exposed to and their past experiences.

7 0
4 years ago
Words like denigrate, the undersigned, and expropriate are examples of high-level diction and should be used liberally in busine
rusak2 [61]

Answer:

False.

Explanation:

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Using high level diction liberally in business communication leads to unclear messaging. The reader may not know the meaning of the words so the aim of communication will be defeated.

Also high level diction can have different meanings in different circumstances.

High level diction should be used sparingly, and simple diction is preferred.

7 0
3 years ago
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On December 1, 20X4, Line Corp. received a donation of 2,000 shares of its $5 par value common stock from a stockholder. On that
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Answer:

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So overall there is no net effect

hence, the amount should be $0

7 0
3 years ago
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