Accounting for land improvements requires that the land improvements are capitalized and then over periods benefited by their use. (Enter only one word.)

The word you're looking for is "depreciated."

Land improvements, such as landscaping, parking lots, and fences, are considered capital expenditures that enhance the value or extend the useful life of the property. According to accounting principles, these improvements should not be expensed in the period in which they are incurred; instead, they should be capitalized on the balance sheet. Subsequently, as the land improvements provide benefits over their useful life, their costs are allocated as depreciation expense on the income statement. This process reflects the consumption of economic benefits derived from the improvements, thus adhering to the matching principle in accounting, where expenses are recognized in the same period as the revenues they help to generate.