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When does the cost of land affect an entity profit or loss

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Reference no: EM132659977

Problem 1: When does the cost of land affect an entity's profit or loss?

a. As the asset is used through periodic charges for cost allocation

b. When the asset is revalued upwards

c. When the related revaluation is recognized on a piecemeal basis as the asset is used

d. When the asset is impaired or when it is sold above or below its carrying amount

Reference no: EM132659977

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