QUESTION 8 :Robert Kaplan and David Norton (2004) state that "intangible assets almost never create value by themselves." The value of intangible assets is strong only if the intangible assets support the strategy the company is pursuing. For example, consider McDonald's, which pursues a low-cost strategy. Staff training and knowledge related to process improvements (such as just-in-time (JIT) inventory management and total quality management (TQM) will be valuable for a company like McDonald's, since this intangible resource supports the overall strategy of cost leadership. Describe an example of an intangible asset that might be valuable to each of the following companies: 1.Dell Computers 2. Canadian Tire 3.Lululemon Athletica (a high quality athletic clothing company) 4. Walmart 5. Tim Hortons 6. Research In Motion ext Times New.. 1 - IC - QUESTION 5 : You are an accountant at Global Consulting. The marketing manager is excited about the success of their new marketing campaign. She boasts, "We spent $1 million on marketing in 2016 and we have already seen an increase in sales of 5% this year!" When you show her the financial statements, she exclaims, "You have made a big mistake! I want to see $1 million recorded under assets for our investment in marketing!" Required: Explain to the manager whether money spent on marketing should be recorded as an asset on the balance sheet. Be sure to explain your reasoning based on the definition of an asset. I QUESTION 3 : A business sells a non-current asset (a) for less than (b) for more than its statement of financial position value. Under IFRS, how will the difference between the asset value in the statement of financial position and the amount received on the sale of the asset be disclosed in the statement of comprehensive income