Question

"Both Land and Land Improvements will generally be depreciated.
True
False"

Answer 1

FALSE. Land is a non-depreciable asset, while Land Improvements can be depreciated over their estimated useful lives.

Step-by-step explanation:

Both Land and Land Improvements will not generally be depreciated. Land is considered a non-depreciable asset because it has an infinite useful life and does not lose value over time. On the other hand, Land Improvements, such as parking lots, fences, and landscaping, can be depreciated over their estimated useful lives. Depreciation is the systematic allocation of the cost of an asset over its useful life.