All plant assets,including land,are depreciated.

Plant Assets

Long-term tangible assets that are used in the production of goods or services and are not intended for sale.

Depreciated

A measure of the reduction in the value of an asset over time, often used for accounting and tax purposes.

Familiarize oneself with the concept of depreciation and the methods of its accounting implementation.

Verified Answer

Final Answer :

False

Explanation :

Land is not subject to depreciation because it has an indefinite useful life and its value does not decrease over time.

Learning Objectives

Familiarize oneself with the concept of depreciation and the methods of its accounting implementation.