Goosen Company Bought a Copyright for $90,000 on January 1

question 141

Multiple Choice

Goosen Company bought a copyright for $90,000 on January 1, 2015, at which time the copyright had an estimated useful life of 15 years. On January 5, 2018, the company determined that the copyright would expire at the end of 2021. How much should Goosen record retrospectively as the effect of change?

• A) $0.
• B) $12,000.
• C) $8,000.
• D) $14,400.

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Definitions:

Media Opinion

The views or perspectives expressed by media outlets, including news organizations, which can influence public perception and discourse.

Interpretive Approach

A qualitative research methodology that seeks to understand social phenomena from the perspective of those experiencing it.

Mass Media

Platforms or technologies used for the wide dissemination of information to large audiences, such as television, radio, and newspapers.

Media Convergence

The merging of traditional media with digital technologies, leading to the creation of new forms of content and platforms for distribution and consumption.