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deduct deperection from land
true or false
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Answer / suri
false,because depreciable assets are which (1) are expected
to be used during more than one accounting period and
(2)limited useful life and (3) are held by an enterprises
for use in the production of or supply of goods and services
for rental to others or for administrative purpose are not
in the sale of goods or services.
Land has unlimited life so we can't deduct depreciation from
land
| Is This Answer Correct ? | 8 Yes | 0 No |
Answer / suri
False Deprciation is only diminishing of limited life of assets
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / mahesh
Actually immovable assets are not able to be depriciated.
| Is This Answer Correct ? | 3 Yes | 2 No |
Land is a fix assets in a business
and land does not have any depreciation
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / chandra
No Land is not depreciable asset.
However it is amortised over the period of lease.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / suraj
land is a fixed asset in a business but land does not have
any depreciation
| Is This Answer Correct ? | 1 Yes | 0 No |
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