$2\mathrm{.}3\mathrm{.}2$ Reviow $-20242025$ C:

Mel $-$ Hudsen, Jostipn $-$ Ov

Question $1(1$ point$)$

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Land improvements are:

Assets that increase the usefulness of land and are not subject to depreciation.

Generally debited to the Land account.

Expensed in the period incurred.

Assets that increase the usefulness of land but have a limited useful life and are subject to depreciation.

Not allocated any cost if acquired as part of a lump$-$sum purchase.

Question $2(1$ point$)$

The amount assigned to an item in the accounting records and in the financial statements$-$for a PPE asset, is its original cost less accumulated depreciation$-$is called:

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$

$\%$

$8$

$($

$1$

$4$

$5$

$6$

$7$

$8$

$9$