Q.1 Circle whether each of the flowing statements is True or False (you must correct the False ones and justify the True ones) (10 Marks) (2Marks each) 1 - When the discounted amount of expected cash flows from an asset is greater than the asset's book value, the asset is deemed to be impaired. True False 2 Good will is the excess of the purchase price of net assets over the book value of net assets. True False pg. 1 3. Selling receivables without recourse increase receivable turnover, whereas selling receivable with recourse decrease receivable turnover. True False Q.1 Circle whether each of the flowing statements is True or False (you must correct the False ones and justify the True ones) (10 Marks) (2Marks each) 1 - When the discounted amount of expected cash flows from an asset is greater than the asset's book value, the asset is deemed to be impaired. True False 2 Good will is the excess of the purchase price of net assets over the book value of net assets. True False pg. 1 3. Selling receivables without recourse increase receivable turnover, whereas selling receivable with recourse decrease receivable turnover. True False