Final answer:
Depreciable assets can be depreciated over time as they wear out or become obsolete. Land is not a depreciable asset.
Explanation:
Depreciable assets are items that can be depreciated over time as they wear out or become obsolete. However, land is not a depreciable asset because it does not wear out or become obsolete. Examples of depreciable assets include office furniture, dairy cows, and rental buildings.
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