Driveways and parking lots are properly included in the Land account because they are not subject to depreciation.

Name: Driveways and parking lots are properly included in the Land account because they are not subject to depreciation.
Brand: Quizplus
Rating: 4.8 (45 reviews)

Question

Quizplus · Accepted Answer

Driveways and parking lots are subject to depreciation due to wear and tear from use, weather conditions, and other factors. Therefore, they should be included in the Fixed Asset account and depreciated over their useful life.

Driveways and Parking Lots Are Properly Included in the Land