Land in agricultural business is a durable asset because
Question 1 Report
Land in agricultural business is a durable asset because
Answer Details
Land in agricultural business is a durable asset because its value is realized over several years. Land can be used for many years and the value of the land as an asset is not realized in a short period of time. Unlike labour, which can be depleted or worn out, land can be used for a long time to produce crops, livestock, and other agricultural products. Land can also appreciate in value over time, making it a valuable asset for agricultural businesses. While land can be expanded by reclamation, this is not the primary reason why it is considered a durable asset. Finally, land is not a free gift of nature, as it often has to be acquired and developed for agricultural purposes, which can be a significant investment.
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