question 7\nwhich of the following is included in the cost of land?\na cost of paving a parking lot\nb…

question 7\nwhich of the following is included in the cost of land?\na cost of paving a parking lot\nb brokers commission\nc outdoor parking lot lighting attached to the land\nd fences on the land

question 7\nwhich of the following is included in the cost of land?\na cost of paving a parking lot\nb brokers commission\nc outdoor parking lot lighting attached to the land\nd fences on the land

Answer

Brief Explanations:

The cost of land includes all costs necessary to acquire the land and make it ready for its intended use. This includes purchase price, closing costs (such as legal fees, title insurance), and any other costs like broker's commission. Paving a parking lot (A), outdoor parking lot lighting (C), and fences (D) are considered land improvements and are depreciated separately. Broker's commission (B) is part of the cost to acquire the land.

Answer:

B. broker's commission