QUESTION 1 Which of the following characteristics of a firm would limit the firm's attractiveness as a potential LBO candidate? Substantial tangible assets High reinvestment requirements High R&D requirements B and C All of the above QUESTION 2 Which of the following is not true about goodwill Goodwill must be written off over 5 years. Goodwill must be checked for impairment at least annually The loss of key customers could impair the value of goodwill Goodwill is shown as an asset on the balance sheet. QUESTION 3 Which of the following represent taxable transactions? O Purchase of assets with cash O Purchase of stock with cash O Purchase of stock or assets with cash Statutory cash merger or consolidation All of the above O