Mark the following statements as True or False then select the corresponding multiple choice answer

_____All intangible assets purchased by a company are amortized over the lesser of their useful

or legal life with no salvage value.

_____Capital expenditures are added to the book value of an asset and depreciated over the

remaining life.

_____ Recording depreciation expense through an adjusting entry is an example of an accrual.

A		T, T, F
B		T, F, F
C		F, T, T
D		F, T, F
E		T, F, F