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    Survey of Accounting Study Set 7
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    Exam 7: Fixed Assets, Natural Resources, and Intangible Assets
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    The Cost of a Patent Should Be Amortized
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The Cost of a Patent Should Be Amortized

Question 42

Question 42

Multiple Choice

The cost of a patent should be amortized :


A) over 10 years.
B) over its economic life.
C) over 20 years or its economic life, whichever is shorter.
D) only if an impairment occurs.

Correct Answer:

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