12 IN 47% D AWAT 01JFA in-class assessment_2019 S2 Questions.pdf ( 2/8) forecast. 3. Allowance for Impairment is an example of an) A. expense account. B. contra-asset account. C. adjunct account. D. control account. Capital expenditures are recorded as A. an expense. B. an asset C. a liability. D. income 5. The book value of PPE assets (other than land) A. increases with the passage of time. B. decreases with the passage of time. C. remains the same with the passage of time. D. may increase or decrease depending upon the economy. > Solutions for Home Exercises CC2019-20 Jump to