I need help with these questions please they are true and false questions

Times New Rom - 11 ' ' a - As BTU * * A-2 A. AaBbcDc AaBbcDc AaBbc AaBC AaBbc I Normal No Spac.. Heading 1 Heading 2 Title Replace Select- Font Paragraph Styles Editing True False Indicate whether the sentence or statement is true or false 1. Taxes deducted from an employee's earnings to finance social security and medicare benefits are called FICA taxes 2. For an interest bearing note payable, the amount borrowed is equal to the face value of the note. 3. Any costs incurred that are necessary to correct mistakes made during the installation of a new piece of equipment should be added to the cost of that asset 4. The only depreciation method that is acceptable when submitting tax returns to the IRS is the MACRS method 5. When land is purchased to construct a new building, the cost of removing any structures on the land should be charged to the building account 6. When a plant asset is traded for another of similar asset, losses on the asset traded are not recognized 7. Receiving payment prior to delivering goods or services causes a current liability to be incurred 8. One of the most popular defined benefit plans is the 401K plan, 9. All long-term liabilities exentually become current liabilities 10. The cost of new equipment is called a revenue expenditure because it will help generate revenues in the future. 11. In a defined benefits retirement plan, the emplover bears the investment risks in funding a future retirement income benefit Focus O e here to search