The amortization period for a patent is
A) indefinite; patents should be reviewed for impairment annually.
B) 20 years.
C) 20 years or the expected useful life of the patent, whichever is longer.
D) 20 years or the expected useful life of the patent, whichever is shorter.
D
You might also like to view...
Data cleansing is a step performed by external auditors to identify and repairing invalid data prior to the audit
Indicate whether the statement is true or false
Closing entries are made
A) to clear revenue and expense accounts of their balances. B) to clear dividends of its balance. C) to summarize a period's revenues and expenses. D) All of these choices.
Lang Industries received payments from customers who had been billed earlier for services provided. What effect does this transaction have on Lang's accounting equation?
A) Assets and liabilities increase. B) Assets and stockholders' equity increase. C) Assets and liabilities decrease. D) There is no net effect on the accounting equation, as one asset account increases while another asset account decreases.
Which of the following attributes is available to enable movement through the associative array data?
A. COUNT B. DELETE C. PRIOR D. EXISTS