Question

All of the following fixed assets are depreciated EXCEPT

A) building.
B) truck.
C) land.
D) equipment.

Answer 1

Fixed assets that are depreciated include buildings, trucks, and equipment. Land is not depreciated. Correct option is c.

Step-by-step explanation:

Fixed assets are assets that a company owns and uses in its operations, such as buildings, trucks, equipment, and land. Depreciation is the process of allocating the cost of these assets over their useful lives.

However, land is not depreciated because it is considered to have an indefinite useful life and its value does not decline over time.