In 2014, Xenex Market Services Began Development of a Customer

question 25

Multiple Choice

In 2014, Xenex Market Services began development of a customer management software package for their own internal use and incurred $40,000 costs related to conceptual formulation of design alternatives. In 2015, management agreed to fully fund development of the software and spent $120,000 in development costs. In 2016, development was completed after incurring an additional $160,000 in development costs plus another $ 60,000 was spent on training costs for using the software. In 2017, the company started using the software and began amortizing related costs over a 10-year expected useful life. What is the amount of amortization expense for 2017 for this internally-developed software?

• A) $28,000
• B) $32,000
• C) $34,000
• D) $38,000

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Definitions:

Cross-examination

A courtroom process where a witness is questioned by the opposing side's attorney, aiming to challenge the witness's testimony or credibility.

Posttrial Motions

Requests made to the court by the parties involved in a trial, asking the court to amend or reconsider aspects of its judgment after the trial has concluded.

Define

To provide the meaning, explanation, or clear description of a term or concept.

Voir Dire

A preliminary examination of prospective jurors or witnesses to determine their competency and suitability to serve in a legal case.