Short answers only. Questions are from Principles of Accounting Volume 1 Financial Accounting Chapter 11

4. LO 11.1 What is goodwill, and how is it generated? 10. LO 11.4 Explain the differences between the process of amortizing intangible assets and the process of depreciating tangible assets. 12. LO 11.5 What are some examples of special issues in accounting for long-term assets? How are they handled? 13. LO 11.5 What is the difference between functional obsolescence and physical obsolescence