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(T / F) All recorded intangible assets are subject to amortization.Select one:TrueFalseCorrect. Only intangible assets with finite useful lives should be amortized.The correct answer is 'False'.
Question Correct4Mark 1.50 out of 1.50Question Correct5Mark 1.50 out of 1.50Question Correct6Mark 1.50 out of 1.50Question Correct7Mark 1.50 out of 1.50(T/F) Recording depreciation each period is an application of the matching principle.Select one:(T / F) The formula for calculating straight-line depreciation is: Depreciation per period = (Asset cost – estimated salvage value) / Number of accounting periods (estimated useful life).(T / F) The cost of land includes its purchase price and other related costs, including the cost of removing an old unusable building that is on the land.