$1.$identify the key issues $-$ preferable would be point form $-$ should not be more than a few

words or a sentence for each key issue $($applying the conceptual framework$)$ These issues

could be the following: $($economic entity, control, revenue recognition and realization,

matching, periodicity, monetary unit, going concern, historical cost, fair value and value in

use, full disclosure, relevance$)$

Analysis $-$ analyze the case or question $-$ tell me everything about the topic $-$ careful that

you don't start to "recommend" in this section.

Recommendations $-$ give me clear, CONFIDENT $($no "I think maybe possibly..."$)$

recommendations as to what should happen including any "fixes" if applicable. Note:

sometimes it works better and is easier to combine your analysis and recommendations

into the same section $-$ but make sure you note that for me$.$

Q $5.$ Gravenhurst Inc. has been concerned about whether intangible assets could generate

cash in case of liquidation. As a result, goodwill arising from a business acquisition during

the current year and recorded at $$800,000$ was written off as follows:

Retained Earnings $800,000$

Goodwill $800,000$