The financial statements of ABC Ltd indicate that the directors did not depreciate their buildings on the
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The financial statements of ABC Ltd indicate that the directors did not depreciate their buildings on the basis that the increase in the value of the associated land more than offset the decline in the value of the buildings, and the increase in the value of the land was not treated as income. Is this a valid argument?
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Land and buildings must be accounted for separately As the life of the building is limited due to su...View the full answer
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