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A4 Which of the following equipment related costs is not capitalized on a balance sheet? A) The equipment's purchase price. B) Transportation costs associated with the equipment purchase. C) Equipment installation costs. D) Equipment maintenance costs. A5 Which of the following accounts would not be considered a tangible asset? A) Land B) Copyright C) Equipment D) Buildings A6 For a business organized as a general partnership, which statement is true? A) The owners and the business are separate legal entities. B) Each partner is potentially responsible for the debts of the business. C) Formation of a partnership requires getting a charter from the state of incorporation. D) A partnership is not considered to be a separate accounting entity