On January 1,2011,Ted Purchased a Small Software Company for $155,000

question 4

Multiple Choice

On January 1,2011,Ted purchased a small software company for $155,000.He paid $95,000 for the fixed assets of the company and $60,000 for goodwill.How much amortization may Ted deduct on his 2011 tax return for the purchased goodwill?

• A)$155,000
• B)$60,000
• C)$95,000
• D)$2,000
• E)$4,000

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Definitions:

Temporal Lobe

A region of the cerebral cortex in the brain associated with processing auditory information and encoding memory.

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