Business, 21.05.2020 23:06 xxbloomxx184p8jqjd
FIFA Footballs acquired a patent in 2018 at a cost of $450 million and amortizes the patent on a straight-line basis. During 2021 management decided that the benefits from the patent would be received over a total period of 8 years rather than the 20-year legal life being used to amortize the cost. FIFA's 2021 financial statements should include:
Choices are
a patent balance of 450 million
patent amortization expense of 45 million
patent amortization of 22.5 million
patent balance of 306 million
Answers: 3
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FIFA Footballs acquired a patent in 2018 at a cost of $450 million and amortizes the patent on a str...
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