Indicate whether each of the following statements is true or false.
_____ a) Sales taxes paid on the purchase of equipment would be expensed in the year of the purchase.
_____ b) Real estate fees and attorney's fees related to the purchase of a building would be added to the cost of the building.
_____ c) Payment of a fine for improper burning of a demolished building would be added to the land account.
_____ d) Delivery charges on equipment would be added to the equipment account.
_____ e) The matching concept requires that plant assets be recorded at the amount paid for the assets.

Question

Quizplus · Accepted Answer

The Answer of Indicate whether each of the following statements is true or false.
_____ a) Sales taxes paid on the purchase of equipment would be expensed in the year of the purchase.
_____ b) Real estate fees and attorney's fees related to the purchase of a building would be added to the cost of the building.
_____ c) Payment of a fine for improper burning of a demolished building would be added to the land account.
_____ d) Delivery charges on equipment would be added to the equipment account.
_____ e) The matching concept requires that plant assets be recorded at the amount paid for the assets.

Indicate Whether Each of the Following Statements Is True or False