A lot of the answers to questions like these are on a site called quizlet it’s very helpful and gives detailed answers.
Answer:
Depreciation is often charged on buildings as opposed to land. However land and buildings could be a separate cost center for an entity.
Explanation:
The reason to why depreciation is charged on buildings is and not limited to wear and tear through time, new found technology used on buildings which is absent in the apparent building, new found efficient planning which is not present in an older building, usage rights i.e. if a building is on a mid to long lease period (5+ to 50+ years) and for every subsequent year the potential usable time period as per that contract decreases, hence decreases in value.
Land on itself is not depreciated since it is assumed that land has a unlimited life period and is fixed in supply. This assumption backs the phenomena of the rising price of land in most parts of the world. However, this doesn’t mean land is appreciated on an annual or on any periodical basis on corporate income statements, this is because it is against the realization concept of accounting.
Land could only be appreciated in certain occasions such as mortgage equity withdrawals or at disposal, etc.
Implicit; explicit
Implicit because was no not expressing her self
And explicit because was getting the ideas
Answer:
South Carolina
Charleston is the capital of South Carolina
