Which of the following is true of goodwill? A) It is not subject to amortization. B) It is a definite-life intangible asset. C) It is an indefinite-life tangible asset. D) It is subject to amortization. Under IFRS, value in use of a long-life asset is A) the discounted future cash flows from use of the asset B) the greater of its recoverable value or its fair value less cost to sell C) the lesser of its recoverable value or its fair value less cost to sell D) the undiscounted future cash flows from use of the asset Can someone confirm if the answer to this is A, and if not explain why?

Which of the following is not a characteristic of intangible assets? A) lack physical existence B) economic value C) not used in operations D) long-term benefits Can someone confirm if the answer to this is C, and if not explain why?

Which of the following is not a method for determining depreciation expense for a specific asset? A) double-declining-balance method B) straight-line method C) units-of-output method D) net method