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Goodwill can be recorded whenever the company has an effective pricing strategy that brings in customers. whenever the company acquires a good location for its business. whenever the company has exclusive dealing arrangements with sought-after suppliers. only when there is an exchange transaction involving the purchase of a business. 3 points Which of the following statements about depreciation is false? The revenue-producing ability of a depreciable asset will decline due to wear and tear and to obsolescence Depreciation exptise and accumulated depreciation are reported on the income statement. Depreciation is a process of cost allocation, not asset valuation. Three factors affect the computation of straight-line depreciation: cost, useful life, and salvage value. 3 points Entity C purchased two electric vehicle (EV) charging stations ( $35,000 each) on January 1, 2024, for $70,000. They wore originaliy depreciated on a straight-line basis over five years with no salvage value. On December 31,2025 , before adjusting entries had been made, the company docided to change the total estimated useful life to 7 years. What was the depreciation expense for 2025 ? Round to the nearest dollar if necessary. $14,000 $8,000 $0 $9,333 3 points Entity D is aware of a permanent decline in value associated with an intangible asset. How should Entty D record this: Record an impairment loss to reduce the intangible asset to its current fair value, if any. Delay recording an impairment loss until a period when its affect on earnings will be minimal. Do nothing. Amortize any impairment loss over a period not to exceed ten years