Question: True or False 21. All operating assets, expect land , are subject to depreciation, amortization, or depletion. 23. The Property, Plant, Equipment category includes long

True or False

21. All operating assets, expect land, are subject to depreciation, amortization, or depletion.

23. The Property, Plant, Equipment category includes long term investments.

24. If a company chooses to treat small plant assets expenditures as expense, GAAP are being violated.

25. Net income on a cash basis is arrived at, by adding depreciation and amortization back to accrual net income.

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