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Business, 08.04.2021 19:40 Ruchen

Which of the following statements is true? Group of answer choices None of the statements are correct. In calculating depreciation, both plant asset cost and useful life are based on estimates. When purchasing delivery equipment, sales taxes and motor vehicle licenses should be charged to Delivery Equipment. Land improvements are generally charged to the Land account. Recording depreciation on plant assets affects the balance sheet and the income statement.

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