Which of the following assets is never expensed on the income statement?
A)Land
B)Building
C)Inventory
D)Equipment

Question

Quizplus · Accepted Answer

Land is a non-depreciable asset, meaning it does not lose value over time and therefore does not need to be expensed on the income statement. Buildings, inventory, and equipment are all assets that may be expensed on the income statement through depreciation, cost of goods sold, or repairs and maintenance.

Which of the Following Assets Is Never Expensed on the Income