Answer the following statements true (T) or false (F)
1) All plant assets are depreciated.
2) The cost of land does not include the cost of fencing and paving.
3) Capitalizing a cost involves crediting the asset account.
4) Land and land improvements are one and the same and therefore must be recorded in single account.
1) FALSE - All plant assets except land are depreciated.
2) TRUE
3) FALSE
4) FALSE - Land and land improvements are two entirely separate assets.
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