Which of the following items should be depreciated?

Question

Quizplus · Accepted Answer

Tangible property, plant, and equipment, other than land, should be depreciated over their useful lives as they represent physical assets that wear out or become obsolete over time. Intangible property, such as copyrights and patents, are also subject to amortization but not depreciation. Land and natural resources do not have a finite useful life and, therefore, are not subject to depreciation.

Which of the Following Items Should Be Depreciated