The cost of land would not include option(a) i.e, the Cost of parking lot lighting.
The asset valuation method that is used to value land that appears on a company's balance sheet is known by the financial accounting term cost of land. The price of the land would cover all costs incurred in purchasing the property as well as those incurred in getting it ready for usage by the business.
The price of the land might be calculated by adding the purchase price, the local government's appraisal of the property, deducting the cost of any existing structures, and title insurance premiums.
All expenses incurred to prepare the improvements for use are included in the cost of land improvements. For instance, the cost of the parking lot is just the agreed-upon fee when two businesses enter into a contract to build one on the other's property.
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