A Company Acquires a Patent for a Drug with a Remaining

question 30

Multiple Choice

A company acquires a patent for a drug with a remaining legal and useful life of six years on January 1, 2005 for $1,200,000.The company uses straight-line amortization for patents.On January 2, 2007, a new patent is received for a timed-release version of the same drug.The new patent has a legal and useful life of twenty years.The least amount of amortization that could be recorded in 2007 is

• A)$200,000.
• B)$40,000.
• C)$54,545.
• D)$60,000.

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Definitions:

Social Categories

Classifications of individuals based on shared characteristics or attributes which can encompass race, gender, age, etc.

Genetic Differences

Variations in the genes among individuals or populations, contributing to diversity in physical traits, susceptibilities to diseases, and other characteristics.

Race

Race is a social construct that categorizes people based on physical characteristics such as skin color, geographical ancestry, and cultural affiliation, often with profound social and political implications.

Clinical Trials

Research studies performed on people aimed at evaluating a medical, surgical, or behavioral intervention.