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
Individual investors and financial organizations can purchase seasoned mortgages and deeds of trust through the federal national mortgage association (fnma). A mortgage that has been in place for some time and has a solid track record of repayment by the mortgagor is seasoned.
What does the term "mortgage" mean?
a formal arrangement through which the owner (i.e., the buyer) gives the lender the title to their property as security for the payment of a mortgage note. After the debt is settled and the mortgage is thrown out, a satisfaction of mortgage is submitted to the registrar or recorder of deeds in the county where the mortgage was recorded.
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Answer:
e.financing
Explanation:
The cash flow statement contains a section titled cash flow from financing activities. The section shows cash inflows and outflow relating to debts insurance and financing, new stocks, and dividend payments.
The cash flow from financing activities section shows the net inflow resulting from activities that fund the business. Financing activities include debts and equity financing. Debt is borrowed capital such as bonds and loans, while equity involves issuance of new stocks or shares.
Answer:The answer is $1,256
Explanation:
Date. Qty. Price. Value. Qty. Price. Value. Qty. Value
$ $ $ $ $
15. 63. 945. - - - 15. 945
10. 74. 740. - - - 25. 1,685
10. 77. 770. - - - 35. 2,455
Beginning inventory = 5×61 = $305
Ending inventory = 20 × 77 =$1,504
Purchase = $2,465
To calculate the cost of good sold
Beginning inventory + Purchase - Ending inventory = Cost of good sold
= 305 + 2,455 - 1,504 = 1,256
The cost of good sold =$1,256