Waxman Company purchased a patent for $170,000 at the beginning of 2016, and estimated that its expected useful life was 10 years. The patent has a legal life of 17 years. What amount should be recorded as amortization expense for the patent in 2016?
a. $ -0-
b. $ 7,000
c. $10,000
d. $17,000
d
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As we interact with one another, we each experience an ______, meaning that we are influenced in some way by the interaction.
Fill in the blank(s) with the appropriate word(s).
Diverted and gray-market goods go through distribution channels that are not authorized or intended by the manufacturer.
Answer the following statement true (T) or false (F)
Check tampering is unique among the disbursement frauds because:
a. the fraud perpetrator processes the transaction as if a customer were returning merchandise, even though there is no actual return. b. it is the one group of schemes in which the perpetrator physically prepares the fraudulent check. c. it is the one group of schemes in which the culprit generates a payment to himself or herself by submitting some false document to the victim company, such as an invoice or a timecard. d. the perpetrator does not have to undergo the risk of taking company cash or merchandise.
The market share maximization pricing objective for a product is appropriate when ________
A) there is low competition in the market B) the product incorporates innovative technology C) demand is relatively elastic D) customers are not very sensitive to price