1. If a building is sold at a gain, the gain on disposal should be reported in the non-operating section of the income statement. Why is it false? 2. The cash flows from the purchase and sale of long-lived assets are reported in the operating activities section of the cash flow statement. Why is it false? 3. When an entire business is purchased, goodwill is the excess of the purchase price over the carrying amount of the net identifiable assets acquired. why is it false?

4. A tangible asset must be fully depreciated before it can be removed from the books. why is it false?