Which of the following statements is correct?
(a) Normally land need not be depreciated
(b) Difficulty of estimating economic life is a valid reason for not depreciating airline terminals
(c) In view of long life depreciation of buildings is immaterial and could therefore be ignored
(d) If residual value of building, adjusted for inflation, is more than its cost there is no depreciable cost and, therefore, there is no need to depreciate