True or False

-Receivables from company owners and officers should be disclosed separately on the balance sheet.

-Of the two methods of accounting for uncollectible receivables, the allowance method provides in advance for uncollectible receivables,

-The acquisition costs of property, plant, and equipment should include all normal, reasonable and necessary cost to get the asset in place and ready for use.

-During construction of a building, the cost of interest on a construction loan should be charged to an expense account.

-For and interest bearing note payable, the amount borrowed is equal to the face amount of the note.

-Internal controls for cash payments also apply to payrolls.