Victor Company Purchased a Patent for $250,000 at the Beginning

question 30

Multiple Choice

Victor Company purchased a patent for $250,000 at the beginning of 2011, and estimated that its expected useful life was 10 years. The patent has a legal life of 20 years. What amount should be recorded as amortization expense for the patent in 2011?

• A) $ -0-
• B) $ 8,333
• C) $12,500
• D) $25,000

---

Definitions:

Written Documents

Physical or digital materials that contain written information or records, ranging from letters and emails to reports and books.

Application Message

A document or communication sent when applying for something, like a job, highlighting one's qualifications and experience.

Interview

A formal conversation between two or more people where questions are asked to gather information, opinions, or assess qualifications.

Employment Videos

Visual content created by companies to recruit employees, showcasing the work environment, culture, and benefits of working for them.