Land improvements are: Multiple Choice O Assets that increase the usefulness of land, and like land, are not depreciated. Assets that increase the usefulness of land, but that have a limited useful life and are subject to depreciation. O Included in the cost of the land account. O Expensed in the period incurred. Assets that increase the usefulness of land, and like land, are not depreciated. O Assets that increase the usefulness of land, but that have a limited useful life and are subject to depreciation. Included in the cost of the land account. O Expensed in the period incurred. O Also called basket purchases