Briefly explain why land does not depreciate.

Income Tax Fundamentals 2020
38th Edition
ISBN:9780357391129
Author:WHITTENBURG
Publisher:WHITTENBURG
Chapter8: Depreciation And Sale Of Business Property
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
Briefly explain why land does not depreciate.
Expert Solution
Step 1

Depreciation is reduced in the value of assets due to natural ability to decrease due to continuous use of the assets,

Decreàse the value of asset when continuously used. depreciation is charged on all the asset except land.

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Accounting for Estates and Trusts
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Income Tax Fundamentals 2020
Income Tax Fundamentals 2020
Accounting
ISBN:
9780357391129
Author:
WHITTENBURG
Publisher:
Cengage
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College