You usually open a regular charge account as a shopping convenience

Cotton Hotel Corporation recently purchased Emporia Hotel and the land on which it is located with the plan to tear down the Emporia Hotel and build a new luxury hotel on the site. The cost of the Emporia Hotel should be

a. depreciated over the period from acquisition to the date the hotel is scheduled to be torn down. b. written off as an extraordinary loss in the year the hotel is torn down. c. capitalized as part of the cost of the land. d. capitalized as part of the cost of the new hotel.

At a confidential meeting, a tax client informed a CPA about the client's illegal insider-trading actions. A year later, the CPA was subpoenaed to appear in federal court to testify in a criminal trial against the client. The CPA was asked to testify to the meeting between the CPA and the client. After receiving immunity, the CPA should do which of the following?

A. Assert the Fifth Amendment and not discuss the meeting. B. Cite the privileged communications aspect of being a CPA. C. Discuss the entire conversation, including illegal acts. D. Discuss only the items that have a direct connection to those items the CPA worked on for the client in the past.