Are 13, 14, and 16 right?

* A Dan e 13. Smith Company purchased land valued at $5,500,000 on October 1, 2010. The land should be depreciated using the following method(s) a. Straight-Line . Units of Activity c. 150% declining balance d. Either a orb Not applicable/None of the above C 14. If depreciation was incorrectly overstated on the income statement, the financial reports would be distorted in the following ways: * Net income overstated, long-term assets overstated. b. Net income understated, long-term assets overstated. Net income understated, long-term assets understated. Net income overstated, long-term assets understated. d 15. Carlton Enterprises recently purchased Xavier Hotel and the land on which it is located with the plan to tear down the Xavier Hotel and build a new luxury hotel on the site. The cost of the Xavier Hotel should be X. depreciated over the period from acquisition to the date the hotel is scheduled to be torn down. b. accounted for under the disposal of the building and discontinued. written off as an extraordinary loss in the year the hotel is torn down, capitalized as part of the cost of the land. a 16. Majorca Company is disposing of a plant asset. The amount of gain or loss from this disposal is: a Reported as the difference between the sales proceeds received and the book value (carrying amount of the asset. *. Reported as the difference between the net cash flows of the productive years of the asset and its carrying amount. c. Reported as the market value less the recoverable amount. d. Not reported A