Answer: Amortization Expense; Patents
Explanation:
The entry to record the amortization of a patent would include a debit to the amortization expense and a credit to the patents.
The journal entry will be:
Debit Amortization expenses XX
Credit Patents XX
Therefore, the correct option is A.
Answer:
Yes the absolute privilege for communications made in judicial or other official proceedings apply to statements made when a citizen contracts the police to report suspected criminal activity
Explanation:
Absolute priviledge for communication is the provision that covers a person from legal action on grounds of defamation for statements made. Under certain circumstances a person can make defamatory statements and be immune from legal action.
In this scenario Lydia Harberg went to California Federal Bank to cash a check that was suspected to be fake.
Nolene Showalter contacted SB to confirm. Based on the information provided at that time, the check was confirmed to be fake. The implication was that a fraud was being perpetrated.
So his action of calling the police is justified. SB only verified they gave out wrong information the first time
Answer:
a. Rao indorses his payroll check in blank.
Explanation:
There are many types of indorsements, and out of them one is "Trust Indorsement"
Trust Indorsement is an indorsement to a person who can use the funds for the benefit of the indorser.
Example:
Brian indorses a check to his employee Denny "Payable to Denny, as agent for Brian", This is an example of trust indorsment.
Option b and c are clearly examples of trust indorsements in which you can notice that Rao has indorsed his lawyer and accountant "as agent for Rao".
Whereas, option a is NOT a trust indorsment but rather a "Blank Indorsement"
Blank Indorsment is an indorsement that doesn't have any particular indorsee and only has a signature on it.
