ACG 3113 FINAL EXAM 2026 QUESTIONS
AND ANSWERS 100% VERIFIED GRADED
A+
⩥ The cost of land includes all of the following EXCEPT Answer: - the
cost of fencing and lighting
- the cost of leveling and grading
- purchase price
- payments to clear liens
- the cost of fencing and lighting
⩥ The cost of a constructed building should include all of the following
EXCEPT Answer: - costs of removing an old building on the new
building site
- building permits
- overhead costs incurred
- excavation costs
- costs of removing an old building on the new building site
, ⩥ Which of the following is NOT a capital expenditure with regard to a
manufacturing facility? Answer: - expanding the building by adding a
new wing
- replacing the air conditioning system with a similar unit
- painting the exterior of the building
- replacing the heating system with a more efficient model
- painting the exterior of the building
⩥ If an asset is sold at a gain, Answer: - the proceeds from the sale are
greater than the asset's cost
- the book value of the asset is less than the proceeds received from the
sale
- the fair value of the asset is greater than the proceeds received from the
sale
- the cost of the asset is greater than its book value
- the book value of the asset is less than the proceeds received from the
sale
⩥ Which of the following is a major characteristic of PP&E? Answer: -
they lack physical substance
- they are acquired for resale
- they are long-term in nature
AND ANSWERS 100% VERIFIED GRADED
A+
⩥ The cost of land includes all of the following EXCEPT Answer: - the
cost of fencing and lighting
- the cost of leveling and grading
- purchase price
- payments to clear liens
- the cost of fencing and lighting
⩥ The cost of a constructed building should include all of the following
EXCEPT Answer: - costs of removing an old building on the new
building site
- building permits
- overhead costs incurred
- excavation costs
- costs of removing an old building on the new building site
, ⩥ Which of the following is NOT a capital expenditure with regard to a
manufacturing facility? Answer: - expanding the building by adding a
new wing
- replacing the air conditioning system with a similar unit
- painting the exterior of the building
- replacing the heating system with a more efficient model
- painting the exterior of the building
⩥ If an asset is sold at a gain, Answer: - the proceeds from the sale are
greater than the asset's cost
- the book value of the asset is less than the proceeds received from the
sale
- the fair value of the asset is greater than the proceeds received from the
sale
- the cost of the asset is greater than its book value
- the book value of the asset is less than the proceeds received from the
sale
⩥ Which of the following is a major characteristic of PP&E? Answer: -
they lack physical substance
- they are acquired for resale
- they are long-term in nature
