1. Cost of new tires for a truck are reported on the statement of financial position and would added to the cost of the truck.

   true or false

2. Costs incurred during the research phase are reported as an intangible asset on the statement of financial position.

   true or false

3. The number of ordinary shares outstanding can be smaller than the number of shares issued when treasury shares are acquired.

   true or false

4. Issuance price of a bond is the present value of future cash flows discounted at the market interest rate at issuance.

   true or false

5. Land improvements are reported on the statement of financial position at their cost less accumulated depreciation.

   true or false

6. When purchasing land, the costs for clearing, draining, filling, and grading should be charged to a Land account.

   true or false

7. If bonds are issued at a discount, the interest expenses will increase over the life the bonds.

   true or false

8. Costs incurred in the development phase after technological feasibility has been achieved are charged to an intangible asset account.

   true or false