Answer:
Value added income = $75
Consumption Expenditure = $675
investing spending = 0
GDP is = $675
Explanation:
given data
jeans purchased = 60 pairs
paid = $10 for each pair
sold = 45 pairs
sold = $15 each
solution
we get here first Value added income Walmart that is express as
Value added income = value of sold - value of bought ..............1
Value added income = (15 × 45) - (10 × 60 )
Value added income = $75
and
Consumption Expenditure will be
Consumption Expenditure = (15 × 45)
Consumption Expenditure = $675
and
investing spending will be = 0
because here in this month no more investment is done
and
GDP will be final value of goods sold at month end is
GDP is = $675
Answer:
c. a patent should be amortized over the shorter of the inventor's life or its economic life
Explanation:
Which of the following statements concerning intangibles is true?
a. a copyright should be considered an intangible with an indefinite life
b. organization costs must be expensed as incurred
c. a patent should be amortized over the shorter of the inventor's life or its economic life
d. the registration of a trademark or tradename lasts for 20 years and is non-renewable
Patents are a right granted to an inventor to exclusively sell a product for a specific period of time usually for 20 years. During this period, others are prevented from making, using, or selling the invention. A patent should be amortized over the shorter of the inventor's life or its economic life.
Types of patents include:
1. utility patents
2. design patents
3. plant patent
Copyright gives the inventor of a product and anyone they give the permission to the right to reproduce the product. Copyrights have limited lives
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