true or false

23. The process of using accounts receivable as security for a loan is known as pledging accounts receivable. 24. Plant assets are used in operations and have useful lives that extend over more than one accounting period. 25. If land is purchased as a building site, the cost of removing existing structures is not charged to the Land account. 26. Obsolescence refers to plant assets that typically have longer useful lives and higher salvage values. 27. The use of internal controls provides a guarantee against losses due to operating activities. 28. Clearly establishing responsibilities and assigning all accounting activities to one person is an important principle of internal control. 29. Cash registers, time clocks, and scanners are examples of technologies that can improve internal control. 30. According to good internal control policies, a person who controls an asset also maintains that asset's accounting records