5. A company plans to sell prints of a painting for 10 years. The company has a copyright on the painting that will expire in eight years. The company should amortize the copyright over A. Zero years as copy rights are not amortized B. 10 years C. Two years D. Eight years 6. When a company records the sale of its plant asset at no gain or loss, it A. Debits cash and accumulated depreciation and credits plant asset B. Cash, plant asset; accumulated depreciation C. Cash, plant asset; accumulated depreciation, salvage value D. Cash, accumulated depreciation; plant asset, salvage value 7. Capital expenditures are costs of property, plant, and equipment that provide material benefits that do not extend beyond the current period. A. True B. False 8. When a company records depreciation on its equipment, it debits and credits B. Depreciation expense; equipment C. Depreciation; equipment D. Equipment; depreciation 9. When a company purchases land and pays to construct a new building, it debits and credits A. Land, land improvements, building; cash/accounts payable B. Land, building improvements, building; cash/accounts payable C. Land, building; cash/accounts payable D. Land, construction expense; cash/accounts payable