Multiple Choice
A company purchased a patent for $100,000 at the beginning of 2012 which it believes has an expected useful life of 5 years.Fortunately,the patent has a legal life of 20 years.How much amortization expense should be recorded in 2012?
A) $0
B) $5,000
C) $20,000
D) $100,000
Correct Answer:
Verified
Correct Answer:
Verified
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