All of the following costs should be capitalized when land is acquired,except,
A)Purchase cost.
B)Sales taxes.
C)Survey fees.
D)Legal fees.

Name: All of the following costs should be capitalized when land is acquired,except, A)Purchase cost. B)Sales taxes. C)Survey fees. D)Legal fees.
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Question

Quizplus · Accepted Answer

Sales taxes are not considered part of the cost of land acquisition and therefore should not be capitalized. The purchase cost, survey fees, and legal fees are all typical costs that would be capitalized.

All of the Following Costs Should Be Capitalized When Land