1) Corner Market has determined to develop its retail store by building on the vacant lot it presently owns. This lot was bought 4 years ago at the cost of $299,000, which firm paid in cash. To date, firm has spent another $38,000 on land improvements, all of which was as well paid in cash. Today, lot has the market value of $329,000. What value must be included in analysis of expansion project for the cost of land?
2) How does one decide what entities to comprise in government’s BFS? What basis of accounting are used in BFS?
3) Do you believe that not-for-profit organization’s board can free the restrictions on money in the strike fund and utilize it for general operations? Does it matter whether we are talking about the strike fund held by the steel workers’ union to pay benefits to its members in a strike, versus a fund utilized by not-for-profit as a safety reserve in case its workers go on strike?