The Land account would include all of the following costs except A)drainage costs. B)the cost of building a parking lot. C)title fees. D)the cost of tearing down a building.

Question

Quizplus · Accepted Answer

The cost of building a parking lot is not included in the Land account because it is considered a land improvement, which is capitalized separately from the land itself. Costs like drainage, title fees, and tearing down a building are necessary to prepare the land for its intended use and are capitalized as part of the land cost.

The Land Account Would Include All of the Following Costs