1 point(s) 13. Accumulated Depreciation is a liability account and has a credit normal account balance. (no answer) True False 14. 1 points) If a merchandising company sells land at more than its cost, the gain should be reported in the sales revenue section of the income statement. (no answer) True False 15. 1 points) Under the allowance method, the cash realizable value of receivables is the same both before and after an account has been written off. (no answer) True False 16. 1 points) Financial statements are the major means of communicating accounting information to interested parties. (no answer) True False