The book value of a plant asset is always equal to its fair market value.
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Q12: Salvage value is not subtracted from plant
Q13: Ordinary repairs should be recognized when incurred
Q14: A characteristic of capital expenditures is that
Q15: A change in the estimated useful life
Q16: To determine a new depreciation amount after
Q18: Capital expenditures are expenditures that increase the
Q19: Land improvements are generally charged to the
Q20: A change in the estimated salvage value
Q21: The Accumulated Depreciation account represents a cash
Q22: If a plant asset is sold at
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