Just True/ False questions

True/False ndicate whether the sentence or statement is true or false. 1. A non-cancellable lease in w hich ownership is transferred to the lessee at the end of the lease term must be recorded as a capital lease. The balance in Allowance for Doubtful Accounts represents the amount a company th from customers. thinks it will nor colledct 2. According to GAAP, the recognition of bad debt expense should occur at the point of estimation under the allowance method, not when an account is actually written-off. 3. Over the life ofa depreciable asset, its recorded cost decreases, the related accumulated depreciation increases, and its book value remains constant. -4. 5. The units-of production depreciation method allocates depreciation in proportion to the asset's u operations a direct 6. The required withholding of federal and state income taxes from employees' wages results in reduction of operating expenses for the employer firm. A dollar received today is worth more than a dollar received a year from now Stock 7