Ip 372-380, and the PowerPoint lecture on terms and definitions.] Most of the following statements regarding amortization are false and misleading. However, which statement is TRUE regarding amortization? Under US accounting standards, we do not recognize amortization, though it is recognized under IFRS. O O It is the process of allocating the cost of natural resources to periods when they are extracted. O It is the systematic allocation of the cost of an intangible asset to expense over its estimated useful life O It is the systematic allocation of the cost of buildings and machinery to expense during the accounting periods benefiting from these assets. Critical thinking, review from chapter 4, and PowerPoint lecture on terms and definitions. Remember, it is "intended use" that makes something a plant asset. One truck may be a plant asset while arn identical truck may be inventory (and thus, not a plant asset), depending on the intended use of the truck.] The Dealer Deck is an auto dealership that owns the following assets. All but one are plant assets. Which of the following is NOT a plant asset? O A van used to provide courtesy rides to customers while their cars are being repaired Cars that Dealer Deck plans to sell to customers A show room used to display some of the more high-end vehicles for sale O O by Dealer Deck O The detached service building where used cars are repaired by Dealer Deck