127.Explain the meaning of the terms "tangible" and "intangible" and discuss how these terms are used in describing assets. 128.Explain the meaning of "impairment" as used in accounting for...

127.Explain the meaning of the terms "tangible" and "intangible" and discuss how these terms are used in describing assets.

128.Explain the meaning of "impairment" as used in accounting for goodwill.

129.State the reason that goodwill is not amortized as some other intangible assets are.

130.Why do some say that the GAAP treatment of research and development puts the US at a competitive disadvantage compared to businesses in other countries?

131.Explain how a choice of depreciation methods will have an impact on financial performance measures. Give one example.