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Question 7CorrectMark 1.50 out of 1.50Flag questionQuestion text
(T / F) All recorded intangible assets are subject to amortization.Select one:TrueFalse FeedbackCorrect. Only intangible assets with finite useful lives should be amortized.The correct answer is 'False'.Question 8CorrectMark 1.50 out of 1.50Flag questionQuestion text(T/F) Salvage value is notsubtracted from plant asset cost in determining depreciation expense under the declining-balance method of depreciation.Question 9CorrectMark 1.50 out of 1.50Flag questionQuestion text(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.Question 10CorrectMark 1.50 out of 1.50Flag questionQuestion text(T/F) Recording depreciation each period is an application of the matching principle.