A plant site donated by a township to a manufacturer that plans to open a new factory should be recorded on the manufacturer's books at

A plant site donated by a township to a manufacturer that plans to open a new factory should be recorded on the manufacturer's books at





a. the nominal cost of taking title to it.
b. its fair value.
c. one dollar (since the site cost nothing but should be included in the balance sheet).
d. the value assigned to it by the company's directors.




Answer: B