ACC 304 All Assignments ACC 304 All Assignments | Page 155

c. deferred revenue account.
d. all of these.
53. A plant site donated by a township to a manufacturer that plans
to open a new factory should be recorded on the manufacturer's books
at
a. the nominal cost of taking title to it.
b. its fair value.
c. one dollar (since the site cost nothing but should be included in the
balance sheet).
d. the value assigned to it by the company's directors.
54. In order for a cost to be capitalized (capital expenditure), the
following must be present: