Classify each of the following costs associated with long-lived assets as one of the following:
-Landscaping at new business location
A)Buildings
B)Machinery and equipment
C)Land
D)Land improvements

Question

Quizplus · Accepted Answer

Land improvements refer to enhancements made to land (excluding buildings) that increase its value, such as landscaping. Therefore, the cost associated with landscaping at a new business location would fall under land improvements.

Classify Each of the Following Costs Associated with Long-Lived Assets