Other than land, long-term assets that are capitalized are:
A)expensed in the year of purchase.
B)depreciated over the life of the asset.
C)recorded at market value.
D)recorded at net realizable value.

Question

Quizplus · Accepted Answer

Long-term assets are capitalized and then depreciated over their useful life, meaning that their cost is spread out over a number of years. This is a standard accounting practice for non-current assets such as buildings, equipment and vehicles.

Other Than Land, Long-Term Assets That Are Capitalized Are