4. What considerations must be taken into account in applying depreciation to buildings?
5. What is the basis for valuing land used for operations?
6. What account should be taken of depreciation and appreciation of land?
7. How should the carrying costs of land held for investment be treated?
8. State fully the points to be considered in handling and valuing donated land.
9. Where land is stock-in-trade, what objection is there to loading the loss suffered on the sale of some portions onto the carrying value of the unsold portions?
10. Distinguish between depletion and depreciation.
11. How is periodic depletion calculated? Explain fully.
12. Discuss fully the valuation of leaseholds.
Chapter XVIII