Which statement is true about land?
A)Land should be depreciated over the same period as the building located on it.
B)Land cannot be depreciated for greater than a 40-year period.
C)Land should not be depreciated.
D)The straight-line method should be used to depreciate land.

Question

Quizplus · Accepted Answer

Land is a non-depreciable asset, meaning it cannot be depreciated. Its value typically appreciates over time rather than depreciating.

Which Statement Is True About Land