please answer all. TRUE OR FALSE. thank you True or False? 1....
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Accounting
please answer all. TRUE OR FALSE. thank you
True or False? 1. Assets classified as Property, Plant. and Equipment are acquired for use in operations, and not for resale. 2. When an improvement to a piece of equipment extends the equipment's useful life without increasing its productive capacity, the cost of the improvement should be debited to the accumulated depreciation account related to the asset. 3. Changes in depreciation estimates are handled retrospectively and require restating previous financial statements. 4. Companies should use either the recoverability test or the fair-value test when testing indefinitelife intangibles for impairment. 5. The costs of land improvements with limited lives are debited to the land account and, regardless of their useful lives, should not be depreciated
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