1) Which of the following is an intangible asset that is not typically amortized?

A) Patent

B) franchise

C) Copyright

D) Goodwill

2) The first step in testing for impairment of goodwill is to?

A) Compare the fair value of the reporting unit with its book value, including goodwill.

B) Asses qualitative factors that indicate whether the fair value of the reporting unit is greater or less than its carrying value

C) Compare the fair value of the reporting unit with its book value, excluding goodwill.

D) Measure the fair value of the reporting unit and the fair value of the identifiable assets of the reporting unit.