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Vaselesa [24]
3 years ago
15

Dunder Mifflin Company incurred research and development costs of $100,000 and legal fees of $40,000 to acquire a patent. The pa

tent has a legal life of 20 years and a useful life of 10 years. What amount should Dunder Mifflin record as Patent Amortization Expense in the first year?
a. 0
b. 3,000
c. 6,500
d. 13,000
Business
1 answer:
stellarik [79]3 years ago
5 0

Answer:

b. $4,000

Explanation:

Calculation to determine What amount should Dunder Mifflin record as Patent Amortization Expense in the first year

Using this formula

Patent Amortization Expense =Legal fees to acquire a patent ÷ estimated useful life

Let plug in the formula

Patent Amortization Expense =$40,000/10 years

Patent Amortization Expense=$4,000

Therefore the amount that Dunder Mifflin should record as Patent Amortization Expense in the first year is $4,000

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230 days

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3 0
3 years ago
A federal law that requires creditors to disclose the annual percentage rate (APR) and the finance charge as a dollar amount is
Nikolay [14]

Answer: The Truth in Lending Act (TILA) of 1968

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The laws requires lenders to disclose the APR (annual percentage rate) of loans, finance charge, repayment schedule and total repayment amount in the documents to be sent  to and signed by the lenders.

This is to control the excesses of lenders and the terms used in the contact must be simple to understand by the borrowers.

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4 years ago
The belmont report's principle of respect for persons incorporates at least two ethical convictions: first, that individuals sho
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The Belmont report's principle of respect for persons incorporates at least two ethical convictions:first, that individuals should be treated as autonomous agents, and second, that persons with diminished autonomy are entitled to protection.

Belmont Report (1979) Developed by National Commission for the Protection of Human Subjects of medicine<span> and </span>behavioral analysis<span>. I</span>t's an announcement<span> of basic </span>moral<span> principles and </span>tips<span>. </span>

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6 0
4 years ago
In determining whether to issue a loan, banks are not allowed to ask about an applicant's
Firlakuza [10]

Answer:

country of origin.

Explanation:

Banks have a set of requirements that borrowers need to meet to qualify for a bank loan. The banks will ask questions to determine if the customer is eligible for a loan. Most of the questions pertain to the purpose of the loans and the customer's ability to repay.

The bank will ask about employment history, credit history, tax information, personal information, the purpose of the loan,  collateral, and other questions related to the ability to repay. A person's country of origin is unnecessary and may elicit elements of discrimination.

3 0
3 years ago
Read 2 more answers
If real GDP is $500 billion, full employment GDP is $300 billion, and the marginal propensity to consume is 0.9, then Congress s
melomori [17]

Answer:

tax increased = $22.22 billion

so correct option is 3. increase taxes by $22.22 billion.

Explanation:

given data

real GDP = $500 billion

employment GDP = $300 billion

marginal propensity = 0.9

solution

we know here that Inflationary gap will be

Inflationary gap = Real GDP - Full-employment GDP

Inflationary gap = $(500 - 300) billion

Inflationary gap = $200 billion

and tax Multiplier is

Tax Multiplier  = \frac{- marginal propensity}{1 - 0.9}

Tax Multiplier  = -9

here negative sign means that decrease real GDP by $9

so tax should be increased by $1

so we can say that decrease real GDP by $200 billion

and  tax should be increased = \frac{200 billion}{9}  

tax increased = $22.22 billion

so correct option is 3. increase taxes by $22.22 billion.

3 0
3 years ago
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