If the fair value of an unlimited life intangible other than goodwill is less than its book value, an impairment loss must be recognized.

The objective of the International Organization for Standardization is to develop production processes that are ________

A) dependent on the participating country's capability B) equal in quality and capability in all participating countries C) higher in quality for developed countries D) lower in quality for developed countries E) adapted to each country's specific circumstances

An accounting firm using the sum-of-the-years-digits method of depreciation purchased office furniture costing $9,00 . and put it into use on April 1 . The furniture is expected to have a useful life of 10 years and an estimated resale value of $600 . Compute the book value at the end of the second year