1. Explain 3 differences between Property, Plant and Equipment (PPE) and Intangible Assets.

2. After reading this chapter, how would you advise your friends in the following cases. Please EXPLAIN your responses using appropriate legal/accounting terms.

a) Your friend, John, tells you that he wishes to open a coffee shop called, Starbucks.

b) Your friend, Jill, tells you that she will use the "swoosh" logo on her coffee mugs and sell it on Amazon.

c) Your friend, Alex, tells you he can copy the latest music album of Justin Timberlake on his CDs and sell it for a very cheap price on Amazon