please answer all the questions immediately

21. Which is incorrect concerning acquisition of an intangible asset as part of a business combination? (1 Point) If there is no active market for the intangible asset the fair value is equal to the amount that would be paid b the entity in an arm's length transaction between knowledgeable and willing parties. The cost of the intangible asset is based on its fair value at the date of acquisition The fair value of an intangible asset acquired in the business combination cannot be measured with sufficient reliability separately from goodwill. If there is an active market from the intangible asset the fair value is equal to the quoted market price which is usually the current bid price 22. Statement 1 - To be qualified as intangible asset, the item may or may not have future economic benefit. Statement 11 - Import duties and nonrefundable purchase taxes are part of the cost of separately acquired intangible asset. (1 Point) True: True True False False: False False True 24. Which of the following is not true about depreciation?* (1 Point) It is matching of revenue and expense O It retains funds by reducing income tax and dividends Oft is only be recorded by publicly listed entities It is not about valuation but cost allocation 25. Under PAS 23, which of the following is not a condition for capitalization of borrowing cos as part of the cost of a qualifying asset? * in (1 Point) Construction is substantially completed and the asset is ready for its intended use The enterprise incurs expenditures for the asset hie enterprise undertakes activities to prepare the asset for intended use or sale o O The enterprise incurs borrowing cost 26. Statement I - The cost of borrowing is included in the cost of self-constructed asset if it meets the criteria under PAS 23 Statement II Under PAS 23. an entity shall begin capitalizing borrowing cost when it incurs expenditure for the asset. LU (1 Point True True True: False False: False False. True 27. Statement 1 - A property, plant and ed may not have physical and tangible appearance