Sample content 1- Multiple Choice Question 214 A company has the following assets: Buildings and Equipment, less accumulated depreciation of $2,000,000 $ 7,600,000 Copyrights 960,000 Patents 4,000,000 Timberlands, less accumulated depletion of $2,800,000 4,800,000 The total amount reported under Property, Plant, and Equipment would be $16,400,000. $13,360,000. $12,400,000. $17,360,000. 2- Multiple Choice Question 144 Expenditures that maintain the operating efficiency and expected productive life of a plant asset are generally expensed when incurred. not recorded until they become material in amount. capitalized as a part of the cost of the asset. debited to the Accumulated Depreciation account 3- Multiple Choice Question 149 A gain or loss on disposal of a plant asset is determined by comparing the original cost of the asset with the proceeds received from its sale. book value of the asset with the asset’s original cost.