Answer:
The amortization expense that should be recorded by Smith & Sons in the second year is $3,750
Explanation:
The computation of the amortization expense in the second year is shown below:
= (Cost of patent) ÷ (expected economic life of the patent)
= ($45,000) ÷ (12 years)
= $3,750
The amortization expense should be the same for the expected life i.e 12 years
For more understanding, we pass the journal entry which is shown below:
Amortization expenses A/c Dr $3,750
To Patent A/c $3,750
(Being amortization expense recorded)
Answer:
The answer is E.
Explanation:
Licensing is a business arrangement in which one company(Krispy Kreme) authorizes another company(Canadian company) permission to manufacture its product for a specified payment. The benefits for licensing are:
1. To create business opportunities by expansion
2. It makes an entry into foreign market easier
3. It reduces risk for the two parties.
Answer:
The conception of man as an economic animal is implied by the view that economic production is the determining “factor” or “sphere” of man or society. Against this conception can be put another, that of man as praxis. This takes account of man as a creative being, capable of realizing his freedom through his own activity. In this article the theory of the determining role of the “economic factor”, and the theory of factors in general have been examined. The economic interpretation of history, a variant of the theory of factors, has been acknowledged as partly true for the self‐alienated man and society, but the theory of factors in any variant has been found inadequate as a general theory of man, or society. The possibility of freedom cannot be reduced to the fact that the determining roles played by “factors”, vary, or to the hope that the economic “factor” can be subordinated to a “better” one. Man's freedom consists in his resolving the conflict of “factors”, and in realizing himself as an integral creative being, no longer split into independent and mutually opposed spheres.
Explanation:
that should help
Answer:
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