1. Why does a seller need to give trade-in allowance to a buyer? A. Because the seller is selling a used equipment B. Because the fair value of the equipment is higher than the book value C. Because the buyer pays cash in addition to giving a used equipment D. Because the buyer is exchanging an equipment whose fair value is higher than book value E. Because trade-in allowance must be given for new equipment 2. Why is Pfizer covid 19 vaccines not produced by pharmaceutical companies in most countries? A. Because companies must apply for Franchise from Pfizer B. Because covid 19 vaccines are intangible assets C. Because covid 19 vaccines are patented to the producing companies D. Because most countries don't have the finance to produce the vaccines E. Because other companies must obtain copyrights for the vaccines 3. At the end of 2021. Samad company tested impairment on an equipment it bought for $10,000 on 31 January 2018. If the company wanted to sell the equipment, there is need for repairs that would cost $2,000 and some logistics that would costs $1,000. The equipment has incurred depreciation of $1,000 yearly since purchase. The value if it would used is $6,000 and selling would fetch $7,000. As the company accountant, what advice would you give the company? A. There is no impairment, it is better to use B. There is no impairment, it is better to sell C. There is impairment, it is better to use D. There is impairment, it is better to sell E. The total impairment is $3,000, it is better to use