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impairment as a long-lived asset because of obsolescence issues. What relationship will the auditors most likely make between the facts stated above? (Points: 4) BlizzardCraft erroneously treated the acquisition of Simco as a purchase transaction when it should have been a pooling of interests. Simco should not have amortized goodwill previous to 2002. Simco's goodwill should have been written off when purchased by BlizzardCraft in a one-time transaction. The goodwill related to Simco may have been impaired during 2008. 64. All of the following represent a related entity to an organization except (Points: 4) the president's son. an affiliate with common ownership. customers. primary owners. 65. All of the following represent equity issuance requiring prominent accounting, presentation and disclosure treatment, except (Points: 4) stock with beneficial conversion features. Warrants issued to a consultant for services performed. Preferred stock that is cumulative and par value is $0.50 per share. Dividends have not been paid on common stock since inception.