Accounting for IGCSE & O level - Accounting Procedures (Section 19 - No. 13)
Which of the following is NOT a characteristic of an asset that is eligible for depreciation?
It has a limited useful life.
It is used in the business operations.
It is expected to provide future economic benefits.
It is land.
Explanation
Land has an unlimited useful life. Depreciation does not apply to land.
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