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15-04-2022
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Acme, Inc., bought land and a building for $150,000. Acme plans to use the building for 20 years and then sell it. What is the useful life of the land

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Parrain Parrain

19-04-2022

Based on the term of usage for the land by Acme Inc., the useful life of the land is 20 years.

What is the useful life of the land?

The useful life of an asset refers to the number of years or periods that the company that acquired the asset, plans on using it.

Acme Inc. in this scenario, plans on using the land for 20 years before they sell it. The useful life must therefore be the 20 years.

In conclusion, the useful life is 20 years.

Find out more on the role of the useful life at https://brainly.com/question/24194507.

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