Business, 06.05.2020 05:34 01moxberger

TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false. 1) The term "plant assets" refers to long-lived assets acquired for use in business 1) operations, rather than for resale to customers. 2) If a piece of equipment is dropped and damaged during installation, the cost of 2) repairing the damage should be added to the cost of the equipment. 3) Sales tax on equipment is not part of the acquisition cost and should not be 3) capitalized. 4) To "capitalize" an expenditure means to charge it to an asset account. 4) 5) A revenue expenditure is recorded in an expense account. 5)

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TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false. 1) The term "plant...