Broadway Corporation Was Granted a Patent on a Product on January

question 25

Multiple Choice

Broadway Corporation was granted a patent on a product on January 1, 2008. To protect its patent, the corporation purchased on January 1, 2019 a patent on a competing product which was originally issued on January 10, 2015. Because of its unique plant, Broadway Corporation does not feel the competing patent can be used in producing a product. The cost of the competing patent should be

• A) amortized over a maximum period of 20 years.
• B) amortized over a maximum period of 16 years.
• C) amortized over a maximum period of 9 years.
• D) expensed in 2019.

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Definitions:

Political Self-Interests

Actions or policies pursued by politicians or political parties based on their own advantages or benefits rather than on public welfare.

Foreign Aid

Financial or other assistance provided by one country to another, especially for development projects or to help recover from a disaster.

Multilateral Aid

Financial assistance provided by multiple governments or organizations to support development projects in other countries.

Nonprofit Organization

An entity that operates for the public or social benefit rather than to make a profit for its owners or shareholders.