When an asset is retired, a gain or loss must be recorded. Select one: O True O False Using the diminishing-balance method results in higher expense in the early income. Select one Using the diminishing-balance method results in higher expense in the early years and therefore, lowers net income. of Select one: True O False When purchasing land, the costs for clearing draining, filling, and grading should be charged to a Land Improvements account. Select one: True False e e here to search