1. The collection of an account receivable is an asset source transaction.

        True    False

2. A company that uses the direct write-off method of accounting for uncollectible accounts must still prepare a year-end adjusting entry to estimate its uncollectibles.

        True    False

3. Tangible assets include land, equipment, and goodwill.

        True    False

4. Intangible assets include patents, copyrights, and franchises.

        True    False

5. The term used to recognize expense for property, plant, and equipment assets is depletion.

       True    False