1. Which type of intangible asset can be separated from the entity and be sold, transferred, rented, or exchanged?
   1. An unidentifiable intangible asset
   2. An identifiable intangible asset

2. True or False: Assuming a companys intangible asset should be amortized, the company must use the straight-line method.
   1. True
   2. False
3. True or False: Legal costs incurred to file for a patent on an internally-developed product should be capitalized.
   1. True
   2. False
4. Assuming a write-down is necessary, which of the following types of write-downs should be performed last (after all the others)?
   1. The write-down of receivables
   2. The write-down of inventory
   3. The write-down of PP&E
   4. The write-down of an intangible asset (other than goodwill)
   5. The write-down of goodwill

5. For an intangible asset (other than goodwill) with an indefinite life, which impairment test(s) should be performed?
   1. Only the recoverability test
   2. Only the fair value test
   3. Both the recoverability and fair value tests