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

Question

Quizplus · Accepted Answer

The cost of modifying a building purchased for a new business location would be classified as a Building, as it refers to the cost of improving or altering an existing building.

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