A Municipality Has Decided to Donate a Plant Site to a Local

Multiple Choice

A municipality has decided to donate a plant site to a local manufacturer that plans to open a new factory and create jobs. The donated plant site should be recorded on the manufacturer's books at

A) its market value.
B) the nominal cost of taking title to it.
C) the value assigned by the company's directors.
D) one dollar (since the site cost nothing but should be included in the balance sheet) .