1. Land is different from other tangible assets in that its utility is not diminished by its use. This statement is

True or False

2. All training costs associated with the purchase and continuing use of an asset should be capitalized in the asset account. This statement is

True or False

3. When the total estimated market value of assets acquired in a basket purchase is greater than the cost of the purchase, the company making the purchase must recognize a gain.

True or False