Answer:
1. Ending Carrying value value in 2016 = legal cost for application which is $20,000
Ending Carrying value in 2017 = legal cost of application in 2016 + legal fees incurred in 2017 = $20,00 + $8000= $28,000
2. The company should not amortize the trade as it was not impaired in 2016 and 2017.
The trade name can be amortized if it's useful life is known above which the company has determined that it will not use the trade name anymore, then it will be amortized over it's useful life.
Price and quality exist positively correlated. A drastic fall in the price of a necklace shows a drastic fall in its quality.
<h3>
What is price?</h3>
A price exists as the quantity of payment or compensation provided by one group to another in return for goods or services. In some situations, the price of production has various names. If the product exists as a "good" in the commercial exchange, the payment for this product will likely be named its "price".
A positive correlation exists as a connection between two variables that move in tandem—that is, in the same direction. A positive correlation exists when one variable decreases as the other variable declines or one variable increases while the other increases. A positive correlation indicates that both variables change in the same direction. A negative correlation indicates that the variables change in opposite directions. A zero correlation signifies there's no association between the variables.
Price and quality exist positively correlated. The price of a product stands as a good indicator of its quality. You always have to spend a bit more for the best. The marketing literature has managed the usage of price as a surrogate for quality as a decision-making heuristic. That exists; the higher the price, the higher the quality.
Therefore, a drastic fall in the price of a necklace shows a drastic fall in its quality.
To learn more about positive correlation refer to:
brainly.com/question/17104826
#SPJ4
The correct answer is exchange or trade
Answer:
The depreciation expense for year 1 is $16,000
Explanation:
Depreciation: The depreciation was occurred due to tear and wear, obsolesce, time period, etc
Under the straight-line method, the depreciation should be charged with the same amount over the useful life.
The calculation is shown below:
= 
= 
= $16,000
The depreciation should be charged for $16,000 in year 1. Moreover, it is shown in the income statement in the debit side and in the cash flow statement also.
