Choose from the following list of account titles the one that most accurately fits the description of that account or is an example of that account.An account title may be used more than once or not at all.
-Ten acres of land used as the site for a factory
A)Cash
B)Prepaid Asset
C)Investments
D)Taxes Payable
E)Preferred Stock
F)Accounts Receivable
G)Land
H)Accounts Payable
I)Retained Earnings
J)Notes Receivable
K)Buildings
L)Notes Payable
M)Common Stock

Question

Quizplus · Accepted Answer

The account title that best fits the description of "Ten acres of land used as the site for a factory" is "Land." It is a long-term asset that is not expected to be consumed or sold in the normal course of business operations.

Choose from the Following List of Account Titles the One