1) Which of the following costs wouldnotbe included in the depletion base of a natural resource?

Question options:

A. Restoration costs

B. Acquisition costs

C. All of the other answers would be included in the depletion base

D. Development costs

Which account would bedebitedif a company incurred legal costs in unsuccessfully defending their 10-year, renewable trademark?

Question options:

A. Lawsuit loss

B. Trademarks only

C. Cash

D. Trademarks or Accumulated amortization

3) A limited-life franchise is being tested for impairment. If the intangible asset's fair value is $242,000, carrying value is $263,000, and expected future net cash flows is $290,000, which of the following istrue?

Question options:

A. There is no impairment from the recoverability test

B. There is no impairment loss from the fair value test

C. There is impairment loss from the fair value test

D. A limited-life intangible asset can not be tested for impairment