Final answer:
Land is the only tangible asset with an indefinite life, as it does not depreciate like buildings, equipment, or land improvements do.
Step-by-step explanation:
The only tangible asset that's assumed to have an indefinite life is A) Land. Unlike buildings, equipment, and land improvements, land does not depreciate over time. It does not wear out, become obsolete, or get used up. In accounting terms, this means that land is not subject to depreciation. Other physical items such as a house, art, rare coins or stamps can be bought and sold and may appreciate or depreciate in value, but only land is considered to have an unlimited useful life and is therefore not depreciated.