6 When a company declares and distrbutes stock dividends, it should be reported on financing activities section of the statement of cash flows. True O False Question 7 Cash withdrawals by a partner are increasing his/her capital account. O True False In the partnership form of business, co-ownership of partnership assets means that these assets are owned jointly by all partners. O True False Question 9 The cost of a plant asset includes the purchase price, applicable taxes, purchase commissions, and all other amounts paid to acquire the asset and make it ready for its intended use True O False Question 11 Land is the only asset that is not subject to annual depreciation. O True False