Indicate whether the following statements are TRUE (T) or FALSE (F). No points will be deducted for the first wrong answers.

1. Parents and subsidiaries are separate legal entities.
2. If a company publicly releases a non-GAAP financial measure (e.g., a non-GAAP income number), the company is not required to present a reconciliation of the differences between the non-GAAP measure and the comparable GAAP measure.
3. Goodwill is an intangible asset that cannot be separated from the company that owns it.
4. Market price of a bond decreases when market interest rate decreases.
5. Minority interest on the balance sheet of a consolidated balance sheet refers to the claim of the minority shareholders on the net assets of the consolidated entity.
6. Consolidated financial statements are required under GAAP because they are efficient in providing information about the performance of the parent company and its subsidiaries to the investors.
7. For inter-corporate investments, greater than 20% of equity ownership is considered as the investor company having a significant influence over the investee company.
8. When an investor company has a significant influence over the investee, the equity method is better than the market method to account for inter-corporate investments, because the equity method provides less flexibility to the investor to manipulate its reported earnings.
9. GAAP requires that when a goodwill is impaired, its value on the consolidated balance sheet has to be decreased in that period.