The special account used only in the closing process to temporarily hold the amounts of revenues and expenses before the net difference is added to (or subtracted from) the owner's capital account is the: a. Closing account. O b. Contra account. c. Balance column account. O d. Income Summary account. e. Nominal account. Land is not a depreciable asset because Select one: land has an unlimited useful life. O b. the future value of land cannot be determined. c. land is classified as a current asset. O d. none of them O e. land may deteriorate in the future