Land is not subject to depreciation so that means that items that increase the usefulness of the land, such as parking lots, are not depreciated.

Question

Quizplus · Accepted Answer

While it is true that land itself is not subject to depreciation, any improvements made to the land, such as parking lots, are subject to depreciation. Depreciation is the allocation of the cost of an asset over its useful life, and parking lots are considered to have a limited useful life before they need to be repaired or replaced. Therefore, they are subject to depreciation.

Land Is Not Subject to Depreciation So That Means That