Examlex
Which statement is incorrect?
Patent Rights
Legal protections granted to inventors, giving them exclusive rights to produce, use, and sell their inventions for a limited period.
Amortization
The process of spreading out a loan or an intangible asset's cost over its useful life.
Useful Life
The estimated period over which an asset is expected to be usable, providing economic benefits to its owner.
Straight-Line Method
A depreciation technique where an asset's cost is evenly spread over its useful life, resulting in a consistent annual expense.
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