Question
TRUE OR FALSE 1. Only assets used in normal business operations are classified as property, plant, and equipment. 2. If the expenditures for sidewalks, pavements,
TRUE OR FALSE
1. Only assets used in normal business operations are classified as property, plant, and equipment.
2. If the expenditures for sidewalks, pavements, parking lots and driveways are part of the blueprint for the construction of new building, these are charged to the cost of Land.
3. Accelerated depreciation (Declining balance) methods will decrease the amount of depreciation expense in the early years of the asset's life.
4. Directly attributable cost includes initial operating losses incurred prior to an asset achieving planned performance.
5. Straight-line depreciation methods will have higher book values for the assets on the balance sheet than companies that use accelerated depreciation.
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