Which of the following statements is incorrect: O 1. Goodwill is subsequently measured at cost less impairment. O2. Goodwill is an asset representing the future economic benefits arising from other assets that are not capable of being individually identified and separately recognised. 3. Goodwill is a non-current tangible asset in the statement of financial position. 4. The change in the ownership structure of a partnership can be accomplished using two accounting procedures based on two distinct perspectives namely the legal and the going-concern perspective. 5. A transferal account is used to close off the accounting records of the existing partnership.