Out of the following statements, select the one that is TRUE. When amortizing an intangible asset using the straight-line method you always use the legal life of the asset. The gain or loss from disposal of property, plant and equipment is the difference between an asset's original value and the value received. The cost of an asset less its accumulated depreciation equals the asset's book value. If the book value of a property, plant and equipment item is less than the amount to be recovered through the asset's use or sale, the difference is an impairment loss and the asset is described as impaired.