In January 2016,Vega Corporation Purchased a Patent at a Cost

question 113

Multiple Choice

In January 2016,Vega Corporation purchased a patent at a cost of $200,000.Legal and filing fees of $50,000 were paid to acquire the patent.The company estimated a 10-year useful life for the patent and uses the straight-line amortization method for all intangible assets.In January,2019,Vega spent $40,000 in legal fees for an unsuccessful defense of the patent and the patent is no longer usable.The amount charged to income (expense and loss) in 2019 related to the patent should be:

• A)$ 40,000.
• B)$ 65,000.
• C)$215,000.
• D)$ 25,000.

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Definitions:

Taboo Topic

Subjects that are considered inappropriate or forbidden to discuss openly in a given culture due to social norms or sensitivities.

Main Functions

The primary roles or activities that are intended or expected from a system, organization, or individual.

Marriage

A socially approved, presumably long-term sexual and economic union between a man and a woman. It involves reciprocal rights and obligations between spouses and between parents and children.