Intangible asset and depletion
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Choose the correct answer and explain in one sentence why:
1. The intangible asset "goodwill:"
a. represents the management team's assessment of its value to the company.
b. may arise when one company purchases another company.
c. arises because the market value of a company's assets is greater than cost.
d. all of the above are correct.
2. The principal challenge to calculating depletion is estimating:
a. the demand for the product.
b. the quantity of material to be recovered.
c. the cost of the asset.
d. the salvage value of the exploration equipment.
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