Pocono Co purchased a patent at the beginning of 2016 for $490,000 Economic benefits were expected for 7 years, but the patent's legal life was 20 years. Also during 2016, the company incurred research and development costs of $150,000 . Patent amortization expense for 2016 is
a. $24,500
b. $150,000
c. $72,143
d. $70,000
d
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Sarbanes-Oxley, Section 409 states that companies ''shall disclose to the public on a(n) ______________________________ and ______________________________ basis such additional information concerning material changes in the financial condition or operations of the issuer....''
Fill in the blank(s) with correct word
Which of the following activities is judged by the rule-of-reason standard?
A) horizontal price-fixing B) group boycotts C) some divisions of markets D) exchange of information
Since a company usually does not know the amount of the year-end bonus at year-end, the company estimates the amount of the bonus based on a percentage
Indicate whether the statement is true or false
The major weakness of average-cost pricing is that it
A. always results in a profit that is less than expected. B. ignores likely customer demand at different prices. C. usually leads to losses instead of profits. D. is too hard for most managers to use. E. All of these are major weaknesses of average-cost pricing.