1) An asset is impaired when the asset's carrying value is: Select one:

A. Greater than the sum of discounted expected cash flows

B. Less than the sum of discounted expected cash flows

C. Less than the sum of undiscounted expected cash flows

D. Greater than the sum of undiscounted expected cash flows

E. None of the above

2) Which of the following estimates are not always required when calculating depreciation expense? Select all that apply.

Select one or more:

A. Depreciation rate

B. Useful life

C. Depreciation method

D. Salvage value

E. None of the above

3)Which of the following are relevant in an analysis of a company's business environment? (Select as many as apply) Select one or more:

A. Financing B. Labor C. Buyers D. Governance E. All of the above