Indicate whether each of the following expenditures should be classified as land (L) land improvements (LI) buildings (B) equipment (E) or none of these (X).

Land Improvements

Enhancements made to a parcel of land to increase its value, such as landscaping, irrigation systems, and roads.

Land

An asset representing the earth's surface, which is not depreciable under accounting rules, but may appreciate in value over time.

Buildings

Physical structures owned by a business, typically used for offices, manufacturing, or storage.