Land is not a depreciable asset because
A) the future value of land cannot be determined.
B) land has an unlimited useful life.
C) land may deteriorate in the future.
D) land is classified as a current asset.

Question

Quizplus · Accepted Answer

Land has an unlimited useful life, which means it does not depreciate over time. Depreciation is the process of allocating the cost of a tangible asset over its useful life, and since land does not wear out or get used up, it does not depreciate.

Land Is Not a Depreciable Asset Because