Question: 1. True or false and why? Depreciation does not apply to buildings because the revenue producing ability and usefulness of buildings generally remains intact over

1. True or false and why? Depreciation does not apply to buildings because the revenue producing ability and usefulness of buildings generally remains intact over time.

2. True or false and why? All plant assets in Property, Plant, and Equipment must be depreciated for accounting purposes.

3. True or false and why? When purchasing delivery equipment, sales taxes and recurring annual motor vehicle license fees should be charged to Equipment.

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