Ask Question
30 May, 10:54

Which of the following costs should not be included in the cost of a building?

a. Remodeling of the building prior to use

b. Purchase price

c. Closing costs (e. g., title insurance)

d. Parking lot repaving

e. Real estate broker's commission

+4
Answers (1)
  1. 30 May, 12:17
    0
    D. Parking lot repaving cost.

    Explanation:

    The cost of parking lot repaving is considered to be land improvements and it is maintained in a separate book of account from building accounts. Remodeling cost of a building, Broker commission, purchase price of a building, depreciation, etc are considered as a cost of building, these costs determine the purchase price of a building in the unit of a square foot. Land improvement cost is recorded separately from land as land improvement has a limited life. It includes all expenditure that is incurred for the improvement.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Which of the following costs should not be included in the cost of a building? a. Remodeling of the building prior to use b. Purchase price ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers