For which of the following assets can the "modified approach" be elected in lieu of depreciation?

Question

Quizplus · Accepted Answer

The modified approach can only be elected for eligible infrastructure assets, which are defined as long-lived capital assets that are (1) assets used for public purpose, (2) assets with a current service capacity, (3) assets that are expected to be used for more than one period, and (4) assets that can be preserved for at least two years. Therefore, choices B, C, and D are incorrect as they include assets that are not eligible for the modified approach.

For Which of the Following Assets Can the "Modified Approach