Which of the expenditures below should be classified as land?
a) Parking lots Electricity used by a machine
b) Excavation cost Interest on building construction loan Cost of trial runs for machinery
c) Drainage costs Costs to install a machine
d) Fences Unpaid (past) property taxes assumed
e) Cost of tearing down a building when land and a building on it are purchased

e) Cost of tearing down a building when land and a building on it are purchased

Explanation:

In terms of IAS 16, Cost of a Property, Plant and Equipment item include, Purchase cost and any other cost directly incurred to place the asset in the location and condition intended for use by management.

Cost of tearing down a building when land and a building on it are purchased are costs  directly incurred to place the Land and Building in the location and condition intended for use by management and will be included in the cost of Both the Land and Building in their apportioned values based on fair values.

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- love what you do.

- the worst thing that could happen might turn out to be the best thing that could happen.

- follow your heart and trust it knows where it's going.

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

                                          hope it