On January 1,2012,Portwell Company Purchased a Patent for $200,000

question 80

True/False

On January 1,2012,Portwell Company purchased a patent for $200,000.They estimate a useful life of 4 years.At the end of 2012,the Patent account will have a debit balance of $200,000,and there will be a credit balance in the Accumulated amortization account of $50,000.

---

Definitions:

Power Distance

A cultural dimension that describes the extent to which individuals in a society accept and expect power to be distributed unequally.

Sense of Individualism

A philosophy or social outlook that emphasizes the moral worth of the individual.

Global Leadership Skills

The ability to exercise effective leadership in a variety of countries.

Societal Hierarchy

A structured ranking within a society where individuals or groups are placed at various levels based on status, power, or authority.