True or False? 1. Assets classified as Property, Plant, and Equipment, can be either acquired for use in operations, or acquired for resale. II. The costs of land improvements with limited lives are debited to a different asset account and depreciated over their useful lives. III. Companies should always offset interest revenue against interest cost when determining the amount of interest to be capitalized as part of the construction cost of assets. IV. Assets purchased on long-term credit contracts should be recorded at the present value of the consideration exchanged. O True, True, False, True O True, False, True, True False, True, True, False O False, True, False, True