A company has purchased a tract of land. It expects to build a production plant on the land in
QUESTION
A company has purchased a tract of land. It expects to build a production plant on the land in approximately
5 years. During the 5 years before construction,the land will be idle. The land should be reported as:
(a) property, plant, and equipment.
(b) land expense.
(c) a long-term investment.
ANSWER:
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