1.Property, plant, and equipment and intangible assets are  long-term revenue-pr

1.Property, plant, and equipment and intangible assets are 
long-term revenue-producing assets.
created by the normal operation of the business and include accounts receivable.
all assets except cash and cash equivalents.
current and long-term assets used in the production of either goods or services.
2.(TCO 3) Our company exchanged land and cash of $5,000 for similar land. The book value and the fair value of the land were $90,000 and $100,000, respectively. Assuming the exchange lacks commercial substance, which amount is correct? 
Debit Land-old $90,000
Credit Land-old $90,000
Debit Land-old $95,000
Credit Land-old $95,000
3.(TCO 2) The exclusive right to benefit from a creative work, such as a film, is a 
patent.
copyright.
trademark.
franchise.
4.(TCO 4) Assuming an asset is used evenly over a 4-year service life, which method of depreciation will always result in the largest amount of depreciation in the first year? 
Straight-line

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