A Purchased Patent Has a Remaining Life of 15 Years

question 8

Multiple Choice

A purchased patent has a remaining life of 15 years. It should be

• A) Expensed in the year of acquisition
• B) Amortized over 15 years regardless of its useful life
• C) Amortized over its useful life if less than 15 years
• D) Amortized over 40 years

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Definitions:

Customer Service Orientation

Approach of employee whose thoughts and actions are geared toward helping customers.

Profitable Items

Products or goods that generate a positive financial return or profit for a business.

Backstabs

Acts of betrayal or disloyalty typically involving deceitful actions against someone who trusts the betrayer.

Productivity

The quantification of how effectively a human, device, manufacturing plant, or system transforms inputs into outputs that are beneficial.