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9All intangibles must be evaluated for impairment on an annual basis. True False 10Under the lower-of-cost-or-market, the market cost should never exceed the net realizable
9All intangibles must be evaluated for impairment on an annual basis.
True
False
10Under the lower-of-cost-or-market, the market cost should never exceed the net realizable value of inventory less expected profit margin.
True
False
11If an asset is in still in service, a firm must recognize depreciation expense related to that asset.
True
False
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