Help me answer the following questions below.

7. I if the residual value is equal to or greater than the assets carrying amount. The assets depreciation is charge to zero. Il. Useful life is defined in terms of the asset's expected utility to the entity. a. Only I is true b. Only II is true C. Both are true d.Both are false B. 1. The residual value and the useful life shall be reviewed at least each financial year-end. If the expectations differ from previous estimates the change is treated as a change in accounting estimate and accounted for retrospectively Il. Fair Value is the amount at which an asset is recognized after deducting any accumulated depreciation and accumulated impairment losses. a. Only I is true b. Only II is true c. Both are true d. Both are false 9. 1. Depreciation shall begin when the asset is available for use. It ceases when the asset is derecognized or classified as held for sale under PFRS 5 II. Depreciation does not cease when the asset becomes idle or is retired from active use unless the asset is fully depreciated. a. Only I is true b. Only II is true c. Both are true d. Both are false 10. I. Depreciation method that is based on revenue that is generated by an activity that includes the use of an asset is appropriate. Il. Under straight line method, depreciation is recognized evenly over the useful life of the asset.* a. Only I is true b. Only II is true c. Both are true d. Both are false 211.When do you recognize depreciatior. expense under retirement method of groUp depreciation? Your answer 12.When do you recognize depreciation expense under replacement method of group depreciation? Your answer 13How is depreciation expense computed under inventory method of group depreciation? Your answer 1. I. Accumulated Depreciation is the systematic allocation of depreciable amount of an asset over its estimated useful life Il. After the initial recognition the entity shall choose either cost model or revaluation model as its accounting policy and shall apply that policy to an entire class of PPE. a. Only I is true b. Only II is true c. Both are true d. Both are false 2. 1. PPE measured using cost model shall measure PPE at its cost less any accumulated depreciation and any accumulated impairment losses Il. Physical depreciation is related to an asset's deterioration and wear and tear over a period of time. a. Only I is true b. Only II is true c. Both are true d. Both are false 3. I. Functional depreciation arise from obsolescence or inadequacy of asset to perform efficiently Il. Obsolescence results when an asset is no longer appropriate because of an increased volume of operations. a. Only I is true b. Only II is true c. Both are true d. Both are false 4. 1. Technical obsolescence , as when the asset is superseded by a newer model or another asset Il. When computing for depreciation, each part of an item of PPE with cost that is significant in relation to the total cost of the item shall be depreciated separately. a. Only I is true b. Only II is true c. Both are true d. Both are false 5. I. Depreciation is not recognize if the fair value of the asset exceeds its carrying amount Il. Depreciation starts when the PPE is available for use. Its location and condition necessary for it to be capable of operating in the manner intended by the management. a. Only I is true b. Only II is true c. Both are true d. Both are false 6. 1. Residual amount is the cost of an asset or other amount substituted for cost less salvage vale Il. Depreciable amount is the estimated amount that an entity would currently obtain from disposal of the asset after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life. a. Only I is true b. Only II is true c. Both are true d. Both are false