true or false

1.) Goodwill is recorded only when the purchase price exceeds the market value of the net liabilities in the acquisition of another company.

1.a) Most intangible assets have a residual value.

1.b) Adoption of IFRS by U.S. companies is expected to result in the recognition of less intangible assets on their balance sheets than presently exist.

1.c) Patents are state government grants that give the holder the exclusive right to produce and sell an invention for 20 years.

1.d)) The useful lives of many franchises are indefinite and therefore are not amortized.

1.e) Some trademarks have an indefinite life and should not be amortized.