A company has inventory value (unfinished) $15,000, estimated cost of completion $1,500 and estimated cost to sell $ 3,500. The net realizable value will be: 1. $10,000 2. $15,500 3. $13,500 4. $11,500

A company performs an impairment test for its equipment. The carrying amount of the equipment is $250,000, its fair value less costs to sell is $225,000, and its value-in-use is $218,750. There will be: 1. $43,750 impairment gain 2. $25,000 impairment loss 3. $25,000 impairment gain 4. $43,750 impairment loss.

Patent gives holder exclusive use for a period of: 1. 20 years 2. 15 years 3. 10 years 4. 30 years.