1) Which of the following characteristics is NOT a requirement for a resource to be considered an asset?

a)The company must be able to obtain the future benefit and control others' access to it.

b)The resource must have a market value.

c)The transaction or event gives the company the right to or the control over the benefit

d)The resource must be able to contribute directly or indirectly to the company's future net cash inflows.

2)Which of the following is NOT a category of intangible assets?

a)intangible assets with finite lives

b)intangible assets with indeterminate lives

c)intangible assets with indefinite lives

d)goodwill

3)Accumulated other comprehensive income/loss may include all of the following EXCEPT:

a)unrealized increases or decreases in the market value of investments in available-for-sale securities

b)certain gains and losses on "derivative" financial instruments

c)extraordinary losses

d)translation adjustments from converting the financial statements of a company's foreign operations into U.S. dollars