Multiple Choice
On 1 October 2016,Nurix Company purchased a patent for $200,000 cash.Although the patent gives legal protection for 20 years,the patent is expected to be used for only 10 years.What will be the balance in the patent account on 30 September 2017?
A) $190,000
B) $180,000
C) $100,000
D) $200,000
Correct Answer:
Verified
Correct Answer:
Verified
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