1- Which of the following is not true about analyzing the collection risk of receivables?

• One needs to
• determine the portion of receivables that are renewals of prior accounts or notes receivable.
• Customer concentration—risk decreases when receivables are concentrated in one or a few customers.
• One needs to compare the company's receivables as a percentage of sales with those of the company's competitors
• Analysis must rely on our knowledge of industry conditions to reliably assess the provision for uncollectibles.

2- Which of the following is not an example of intangible asset?

• Licenses, franchises, memberships, and customer lists
• Special formulas, processes, technologies, and design
• Reputation, privilege and relationship with government
• Exploration rights and natural resource development costs

3-  What is one criterion a company uses to decide whether an intangible asset should be recorded on the balance sheet or not?