QUESTION 2 A gain on the sale of a depreciable asset: Is a revenue item on the balance sheet and an addition to net income (loss) in the reconciliation section of the statement of cash flows. Is an expense item on the regular income statement and a deduction from net income (loss) in the reconciliation section of the statement of cash flows. Is a revenue item on the regular income statement and a subtraction in the investment section of the statement of cash flows. None of the above. 4 points QUESTION 3 Concerning goodwill: If the fair value of the acquired companys assets are greater than the purchase price of the acquired company, the amount of goodwill is negative resulting in a liability on the acquiring companys balance sheet. It is a companys excess internal reputational value that is capitalized on that companys balance sheet. Both A and B None of the above. 5 points QUESTION 4 Concerning limited life intangible assets and an indefinite intangible assets: An indefinite intangible asset may never be capitalized on a companys balance sheet. The limited life intangible asset is amortized over the life of the intangible asset. Both are subject to an impairment analysis. Both B and C