TRUE or FALSE ?

1.The initial franchise fee plus the present value of estimated future fees paid to the franchisor for future services are capitalized at the beginning of the franchise period.

2.Depletion of the cost of natural resources usually is determined using the units-of-production method.

3.The cost of an intangible asset with an indefinite useful life is amortized over the lesser of the asset's legal life or 20 years