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Quotes of the day:
Oil prices will keep breaking new records until other countries move to nuclear and alternative energy sources or we discover massive new reserves and increase production dramatically over the next few years.
Land is real estate or property, minus buildings and equipment, that is designated by fixed spatial boundaries. Land ownership may offer the titleholder the right to natural resources on the land. The traditional school of economics dictates that land is a factor of production, along with capital and labor. The sale of land results in capital gain or loss; under IRS tax laws, land is not a depreciable asset, and qualifies as a fixed asset instead of a current asset.
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