[Answer] Which of the following assets is not depreciation?

Answer: Land

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Which of the following assets is not depreciation? Which of the following is not true in regard to selling fixed assets ? a. Accumulated Depreciation will be credited. b. The journal entry is similar to discarding fixed assets . c. The cash receipt is recorded. d. If the selling price is more than the book value a gain is recorded. Which of the following plant assets is not depreciated? Land for site use Nash Co. reported a net income for the current year of $120 000 cash flow operating activities of $150 000 total average assets of $1 500 000 and paid dividends of $40 000 . Land is the only asset that is not depreciated. Economics teaches us that land is a scarce resource. Therefore land is not depreciated as demand will always outstrip supply. Depreciation is charged so that the true value of the asset is reflected. Assets that are prone to fall in value due to obsolescence war and tear etc are depreciated. Janet owns land that she uses in her business. Which of the following statements is correct regarding the land? A. The land is classified as personal-use property and it can NOT be depreciated because it is not a business asset B . The land is classified as real property and it can be depreciated because it is a business asset C . Which of the following is not a required disclosure about each major class o...

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