Question: Please Answer Fast will support you. 1) Natural resources include standing timber and resources extracted from the ground, such as oil, gas, and minerals. True

Please Answer Fast will support you.

1) Natural resources include standing timber and resources extracted from the ground, such as oil, gas, and minerals.

True Or False

2) The Accumulated Depreciation is a contra asset account.

True or False

3) All plant assets (fixed assets) must be depreciated for accounting purposes.

True and False

4) If the book value exceeds the proceeds from the sale of a plant asset, a gain on disposal occurs.

True and False

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