Answer:
A, B, C
Explanation:
Plant assets should be recorded at cost, including all normal and reasonable expenditures necessary to get the asset in place and ready for its intended use. This would include Taxes, Insurance in transit and Shipping charges.
Plant assets should be recorded at cost, including all normal and reasonable expenditures necessary to get the asset in place and ready for its intended use. This would include all insurance in transit, taxes, and shipping cost.
The cost of business assets such as property, plant, and equipment requires recording its purchase price and other expenditures that are necessary for making the assets to be utilized effectively.
Therefore, the cost must include commissions, legal fees, bank fees, title search fees, and similar expenses.
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