Ten years ago a corporation purchased a building for $160,00
Ten years ago a corporation purchased a building for $160,000. At that time, the corporation felt that the business was worth $185,000. The current market value of the business is $460,000
The building has been assessed at $435,000 for property tax purposes. At which amount should the corporation record the building in its accounting records?
A) $160,000
B) $185,000
C) $435,000
D) $460,000
ANSWER
A
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