Question 1 of 12 In which situation should an impairment loss be recorded for a broadcast license? Select an answer: The sum of the estimated future cash flows is less than the asset's book value. The market value is greater than the book value. The sum of the estimated future cash flows is greater than the asset's book value. The market value is less than the book value. Previous Nex Question 2 of 12 After the AOL and Time Warner merger, goodwill accounted for assets. of the combined company's Select an answer: two-thirds one-tenth one-quarter one-half Previous Ski Question 3 of 12: For an intangible asset with a finite life, how is the impairment loss calculated? Select an answer: the estimated market value minus the book value the book value minus the estimated market value the book value minus the net value the net value minus the book value Previous A company purchases a delivery truck for $100,000 and will sell it for $10,000 after 10 years. What is the yearly depreciation of the truck using the straight-line method? Select an answer: 90000 9000 100000 10000 Previous Question 5 of 12: Why do companies use double declining balance instead of straight-line depreciation when calculating their income taxes? Select an answer: It increases the salvage value of the assets. It allows them to write off the costs of assets faster. The depreciation is tax deferred. They can depreciate assets over a longer period of time. Previous SkN When purchasing an entire media business, which item is an example of goodwill? Select an answer: a recording studio the company's relationship with actors trademarks and intellectual property business liabilities Previous Skip