1. When a company eschanges non monetary assets and a loss results, the company recognizes the loss only if the eschange has commercial substance. ID A) True B) False 2. Costs incurred subsequent to the acquisition of an asset are capitalized if they provide future benefits. A) True E) False 3. Which of the following is nok major characteristic of a piani A) Poroses physical substance B) Acquired for resale C) Acquired for ase D) Yicide services over a number of stars 4. The cost of land does not include A) costs of grading, filling, draining, and clearing. B) costs of removing old buildings C) costs of Improvements with limited livet. D) special assessments