question archive Which of the following statements is accurate about the Land account? (Check all that apply
Which of the following statements is accurate about the Land account? (Check all that apply
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Which of the following statements is accurate about the Land account? (Check all that apply.) The Land account is an asset. The Land account is an expense account. The Land account is used to record the costs of land purchased by the business. The Land account records the costs of purchasing an office, warehouse or store, The Land account is increased on the left side of its T-account,
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- The Land account is an asset.
- The Land account is used to record the costs of land purchases by the business.
- The Land account is increased on the left side of its T-account.
Land account is an asset account for a business organization which increase the asset of a business. Under the land account all the costs related to that land records and transaction related to that land is recorded. Other than that it appears on the left side of the T-account.
