2 The matching principle equires use of the direct write-off method of accounting for bad debts TRUE FALSE 21land is parchased as a building site, the cost of removing existing structures is charged to th Land aceount TRUE FALSE 22 Mant assets are used in operations and have useful lives that extend over more than one accou FALSE TRUE 23 Depreciation is the process of allocating the cost of a plant asset to expense in the accountin yetliods benefiting from its use TRUE PALSE 24 Total depreciation expense over an asset's useful life will be identical under all methods of depreciation TRUE FALSE 25 Kevising an estimate of the useful life or salvage value of a plant asset is referred to as a cntng estimate, and is reflected in the past, current, and future financial statements TRUE FALSE 26 Depreciation is higher and income is lower in the short run when using accelerated ve- Bane methods TRUP PALSE 2 The matching principle equires use of the direct write-off method of accounting for bad debts TRUE FALSE 21land is parchased as a building site, the cost of removing existing structures is charged to th Land aceount TRUE FALSE 22 Mant assets are used in operations and have useful lives that extend over more than one accou FALSE TRUE 23 Depreciation is the process of allocating the cost of a plant asset to expense in the accountin yetliods benefiting from its use TRUE PALSE 24 Total depreciation expense over an asset's useful life will be identical under all methods of depreciation TRUE FALSE 25 Kevising an estimate of the useful life or salvage value of a plant asset is referred to as a cntng estimate, and is reflected in the past, current, and future financial statements TRUE FALSE 26 Depreciation is higher and income is lower in the short run when using accelerated ve- Bane methods TRUP PALSE