The computation of the Patent Amortization Expense in the first year is shown below:
= Legal fees to acquire a patent ÷ estimated useful life
= $30,000 ÷ 10 years
Only the legal expense would be amortized in a year.
And, the lesser period of legal life i.e 20 years and useful life i.e 10 years would be taken in the computation part. So, the lesser time period would be considered i.e useful life of 10 years
Option 3000 is the answer to your question.
Hope it helps u dear✌️✌️
The main purpose of a balance sheet is to _____. comply with IRS laws obtain a bank loan show a business's financial state show profits earned
show a business's financial state
Balance sheet contains the income and expenditure of the various activities in the company
Balance sheet helps in showing the financial state of a business . It helps
In telling if the business is running at a profit or loss.
What are the responsibilities of an executor? Check all that apply.
A, B, C, and D are all responsibilities of an executor.
A. paying any taxes that are due on the estate
B. taking inventory of the property and belongings
C. appraising and distributing the deceased person’s assets
D. settling any debts that are owed by the deceased
An executer use a persons will to determine where the money and assets go after death. They protect all assets of an estate to make sure the will is followed as it was planned to be. The funds from the Will cover funeral expenses, debt that the deceases had prior to their death.
The difference between intentional torts and torts involving negligence is that, in torts involving negligence, the tortfeasor does NOT wish to bring about the consequence of the act, nor does she or he believe it will occur. a. True b. False
Explanation: As, per the name says, intentional torts are the one in which the individual had the desire to do the activity leading to legal liability. Fraud, misrepresentation and slander are some of its examples.
Whereas, in case of torts involving negligence, the actions leading to law suits were not done deliberately by the individual.
Hence, we can conclude that the given statement is true .
True:I just took the test
The unequal distribution of wealth, income, power, and poverty is called
The answer to this question is social inequality. Social inequality is the unequal amount of opportunity and reward that is given to a person depending on their race, gender, age, or class. Social inequality can be categorized into 5 types such as political inequality, income inequality, life inequality, inequality of membership, and inequality of treatment.