In an agricultural enterprise, which of the following items can depreciate?

In agriculture, depreciation refers to the decrease in value of a tangible asset over time due to wear and tear, usage, or obsolescence. A tractor is classified as a long-term asset that has a specific useful life and is subject to this form of accounting treatment. As the tractor is used in operations over the years, its value diminishes, reflecting the costs of maintenance and potential technological improvements that may render it less efficient over time.

On the other hand, seeds, fertilizers, and farming land do not typically depreciate in the same manner. Seeds are consumables that are used within a single production cycle and do not have a lingering value beyond that season. Fertilizers are also consumable supplies that get used up within a growing season, so they are expensed rather than capitalized and depreciated. Farming land, as an asset, usually appreciates in value over time due to various factors such as scarcity, demand, and improvements made to it.

Therefore, in the context of agricultural enterprises, the correct option that can depreciate is the tractor, reflecting its long-term use and value reduction over time.