Asked by Kennedy Clarkson on Jul 17, 2024
Verified
Land is not depreciated.
Depreciated
The reduction in the recorded cost of a fixed asset in a manner that allocates its cost over the useful life of the asset.
- Identify and differentiate between depreciable and non-depreciable assets.
Verified Answer
RB
Rebekah BowenJul 21, 2024
Final Answer :
True
Explanation :
Land is considered a non-depreciable asset because it is not expected to wear out or become obsolete over time.
Learning Objectives
- Identify and differentiate between depreciable and non-depreciable assets.