If a firm successfully defends an intangible right, it should expense the litigation costs as incurred.
Answer the following statement true (T) or false (F)
False
If a firm successfully defends an intangible right, it should capitalize the litigation costs and amortize them over the remaining useful life of the related intangible.
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Danbury Corporation was involved in a lawsuit with the EPA alleging inadequate air pollution control facilities at its Lafayette plant site during 2011 . At December 31 . 2014, it appeared probable that the EPA would settle for approximately $150,000 . This event should be recognized in 2014 as a(n)
a. extraordinary loss. b. disclosure of a contingency loss only in a note. c. should not be disclosed or recognized.. d. loss on the lawsuit (operating expense).
Which of the following adjectives is absolute and cannot be compared?
A. True B. Great C. Funny D. Happy
Renewal provisions in a lease are strictly construed against the tenant
Indicate whether the statement is true or false
A goodness of fit test is used when we want to see how likely data is given a model of likely…
a. counts of a single nominal variable b. interactions between two nominal variables c. values for a parameter d. none of the above