hello sir!!
I have a question that normally we don't depreciate land but if that land is revalued and its given that residual value is same as that of original value of land then do we need to depreciate it or not?
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Depreciation
10y ago#1We normally do not depreciate land because we normally assume that it lasts for ever.
If we revalue then we still do not depreciate.
(But we must depreciate any buildings, because they do not last for ever :-) )
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