The costs of land improvements with limited lives are

Name: The costs of land improvements with limited lives are
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Question

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Land improvements with limited lives (such as sidewalks, fences, and parking lots) are recorded in a separate account and amortized over their useful lives. Therefore, options (B) and (C) are both correct. They are not added to the land account because land is considered to have an indefinite life and therefore should not be subject to depreciation or amortization.

The Costs of Land Improvements with Limited Lives Are