Indicate Whether Each of the Following Statements Is True or False

Short Answer

Indicate whether each of the following statements is true or false.
_____ a)Plant assets are classified as long-term assets,while intangible assets are treated as current assets.
_____ b)Intangible assets include patents,copyrights,and natural resources.
_____ c)Intangible assets with indefinite useful lives will be not be amortized.
_____ d)The cost of land should be depleted over its useful life.
_____ e)The cost of a natural resource should be expensed (depleted)over its useful life.