Identify the accounting concept, assumption, or principle that best applies to each of the following situations:

a. Inflation has been about 2.5% for some time. Village Realtors is considering measuring its land values in inflation-adjusted amounts.

b. You get an especially good buy on a laptop, paying only $300 when it normally costs $800. What is your accounting value for this laptop?

c. Burger King, the restaurant chain, sold a store location to McDonald’s. How can Burger King determine the sale price of the store—by a professional appraisal, Burger King’s original cost, or the amount actually received from the sale?

d. General Motors wants to determine which division of the company—Chevrolet or Cadillac—is more profitable.