Accounting questions?

Question by 21: Accounting questions?
1.
A permanent decline in the market value of an asset is referred to as an impairment.
A) True
B) False
2.
Research and development costs that result in a successful product that is patentable are charged to the Patent account.
A) True
B) False
Multiple Choice
3.
A truck was purchased for $ 90,000 and it was estimated to have an $ 18,000 salvage value at the end of its useful life. Monthly depreciation expense of $ 1,500 was recorded using the straight-line method. The annual depreciation rate is
A) 20%.
B) 2%.
C) 8%.
D)

Corporate Finance