A Change in the Amortization Rate for an Intangible Asset

question 122

Multiple Choice

A change in the amortization rate for an intangible asset should be accounted for:

• A) by means of retroactive basis.
• B) by means of a prior period adjustment.
• C) on a prospective basis.
• D) on a current basis.

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Definitions:

Floral Preservative

A chemical solution added to water to extend the life of cut flowers by preventing bacterial growth and nourishing the plants.

Approach

A method or strategy used in starting something, such as initiating a conversation, project, or a sales pitch.

Problem-Solution Sales Presentation

A problem-solution sales presentation is a sales approach where the seller identifies and highlights a problem the prospective buyer has and presents their product or service as the solution.

Sales Approach

A method or strategy used by salespeople to introduce and sell a product or service to potential customers.