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(T / F) In calculating depletion, the residual value of acquired land containing an ore deposit is included intotal costs subject to depletion.Select one:TrueFalse Correct. The residual value of land should be deducted from total costs subject to depletion.(T / F) All recorded intangible assets are subject to amortization.Select one:
8/10/2019Weekly Quiz 53/3Question9CorrectMark 1.00 outof 1.00Question10CorrectMark 1.00 outof 1.00(T / F) By comparing an asset's book value (cost less up-to-date accumulated depreciation) with its salesprice, the company may show either a gain or a loss.Correct.(T / F) If an asset's sales price is greater than book value, the company shows a gain. If sales price is lessthan book value, the company shows a loss. If sales price equals book value, no gain or loss results.Jump to...Assessment 5