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5 November, 06:29

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

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Answers (1)
  1. 5 November, 06:44
    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.
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Home » Business » 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
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