1. Neither gain nor loss can be recognized when a company sells a fully depreciated fixed asset TRUE FALSE 2. Impairment of a finite life tangible asset reduces the sum of the future depreciation expenses for that asset TRUE FALSE 3. The choice of GAAP depreciation assumptions impacts cash through taxes paid TRUE FALSE 4. Defined contribution retirement plans do not lead to long-term assets or liabilities on the firm's Balance Sheet TRUE FALSE 5. The GAAP tax expense reported for the year is always less than the taxes paid during the year TRUE FALSE 6. Outstanding shares of stock are authorized shares minus shares in the Treasury Stock account TRUE FALSE 7. A stock split does not impact the Net Income of the firm TRUE FALSE 8. An acquisition of another firm, paid for in cash, is shown in the Investing section of the Statement of Cash Flows TRUE FALSE 9. Both the payment and the receipt of dividends are shown in the Financing section of the Statement of Cash Flows TRUE FALSE