ACC 304 All Assignments ACC 304 All Assignments | Page 138

c. capitalized as part of the cost of the land.
d. capitalized as part of the cost of the new hotel.
25.
The cost of land does not include
a. costs of grading, filling, draining, and clearing.
b. costs of removing old buildings.
c. costs of improvements with limited lives.
d. special assessments.
26. The cost of land typically includes the purchase price and all of
the following costs except
a. grading, filling, draining, and clearing costs.