6:03 Blackboard Done .III LTE uia8,9,10 FOR STUDENTS TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false. 1) Trade receivables can be an account receivable or a note receivable. 2) Both accounts receivable and notes receivable represent claims expected to be collected in cash. 3) Accounts Receivable are usually the least significant type of claim held by a company. 4) An aging of accounts receivable schedule is based on the premise that the longer the period an account remains unpaid, the greater the probability that it will eventually be collected. 5) When using the allowance method, bad debt expense is recorded when an individual customer defaults. 6) The book value of a plant asset is always equal to its fair market value. 7) The depreciable cost of a plant asset is its original cost minus obsolescence.