Industrial products and services include raw materials, buildings, fixed equipment, supplies, services, and ________.

When should a consolidated entity recognize a goodwill impairment loss?

A. Whenever the entity's market value declines significantly. B. If both the market value of a reporting unit and its associated implied goodwill fall below their respective carrying values. C. Annually on a systematic and rational basis. D. If a reporting unit's market value falls below its original acquisition price.

A counterpurchase occurs when:

a) a direct exchange of goods and services takes place between two parties without a cash transaction. b) a firm agrees to buy a certain amount of materials back from a country to which a sale is made. c)exchange of goods and services occur through a bank in the exporter's country. d) a firm builds a plant in a country and agrees to take a certain percentage of the plant's output as partial payment for the contract.