For intangible assets, controls should be designed to do which of the following?
a. Identify and account for intangible asset impairments.
b. Develop amortization schedules that reflect the remaining useful life of patents or copyrights associated with the asset.
c. Provide reasonable assurance that decisions are appropriately made as to when to capitalize or expense research and development expenditures.
d. All of the above.
d
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Hammer bought a tool set from Weekend Projects, Inc and signed a consumer credit contract promising to pay for the tool set in 12 monthly installments. Weekend promptly negotiated the instrument to its affiliate Easy Finance Co in exchange for a
discounted payment. Easy Finance gave value for the instrument, in good faith, and without knowledge of any defects or claims against the instrument. The tool set was defective and therefore Hammer stopped making the monthly payments. Easy Finance sues Hammer for the balance due on the instrument. Can Hammer raise this personal defense (breach of implied warranty of merchantability) against Easy Finance? Discuss.
Based onstatistics from the U.S. Small Business Administration,small businesses comprise 49.9% of all businesses in the United States.
Answer the following statement true (T) or false (F)
Milo files a suit against Otis. At the trial, each party's attorney presents the party's case before a judge who hears the dispute and renders a legally binding decision. This is
A. a mini-trial. B. a summary jury trial. C. litigation. D. not a legitimate form of dispute resolution.