4.Of the PPE, buildings are depreciated because these are long-term tangible assets True False 5.Buildings depreciate, natural resources are amortized and intangible assets deplete. True False 6. Costs of land improvements are included in the Land account. True False

4.Of the PPE, buildings are depreciated because these are long-term tangible assets True False 5.Buildings depreciate, natural resources are amortized and intangible assets deplete. True False 6. Costs of land improvements are included in the Land account. True False

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

4.Of the PPE, buildings are depreciated because these are long-term
tangible assets
True
False
5.Buildings depreciate, natural resources are amortized and intangible
assets deplete.
True
False
6. Costs of land improvements are included in the Land account.
True
False

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