question archive A purchased patent has a legal life of 20 years
A purchased patent has a legal life of 20 years
Subject:AccountingPrice: Bought3
A purchased patent has a legal life of 20 years. It should be
a. not amortized.
b. amortized over 20 years regardless of its useful life.
c. amortized over its useful life if less than 20 years.
d. expensed in the year of acquisition.
