(1) The impairment loss for property, plant and equipment, should be reported in the income statement as: a. A separate component of income from discontinued operations. b. A separate component of other non-operating expenses. c. A separate component of operating expense. d. A separate disclosure in the footnote to income statement. (2) Which of the following is not an indicator in IFRS 15 that the customer is likely to have control over a product? a. The customer has accepted the product. b. The product is warehoused by seller-affiliated third party. c. The customer has legal title to the product. d. The customer has physical possession of the product. (3) For contracts that include more than one separate performance obligation, which of the following statements is correct? a. The contract price is allocated to each performance obligation in proportion to the obligations' stand-alone selling prices when the prices are available. b. Revenue is recognized in the amount of the contract price on the date the last separate performance obligation is satisfied. c. Revenue is recognized in the amount of the contract price on the date the contract is signed. d. Revenue is recorded over time at the fair value of each performance obligation. (4) Fryer Co. owns equipment for which it paid $90 million. At the end of 2018, it had accumulated depreciation on the equipment of $27 million. Due to adverse economic conditions, Fryer's management assessed whether an impairment should be recognized for the equipment. The estimated present value of future cash flows is $60 million, and the equipment's fair value less selling costs at that point is $40 million. Fryer Co. will: a. Record no impairment loss on the equipment. b. Credit $3 million to accumulated depreciation account. c. Credit \$3 million to equipment account. d. Credit $3 million to accumulated impairment loss account