Which statement is true? I. Testing in search for product or process alternative is a research activity. II. Periodic design changes to existing products are considered as development activities Group of answer choices I only II only Both I and II Neither I nor IIAn entity is considering to apply an impairment test to an individual asset or to the cash generating unit to which the asset belongs. Which of the following statements is true? Group of answer choices If the individual asset does not generate cash inflows that are largely independent from other assets, the cash generating unit should be identified. If the individual asset generates a significant proportion of cash inflows of the entity as a whole, the cash generating unit should not be identified. If the individual asset generates an insignificant proportion of cash inflows to the entity as a whole, the cash generating should not be identified. All of these statements are true