On January 1, Year 1, Sanders Company acquired a patent in conjunction with the purchase of another company. The patent, valued at $600,000, was estimated to have a 10-year life and no residual value. Sanders uses the straight-line method of amortization for intangible assets. The unamortized cost (balance in the Patent account) was $480,000 at December 31, Year 2. On January 5, Year 3, Sanders successfully defended its patent against infringement and paid cash of $40,000 for the related litigation costs. What is the amount of amortization expense that will be recorded for Year 3

Which of the following best describes the economic effect that results when the government increases interest rates and restricts the lending of money? a. borrowing money becomes more expensive and there is less investment in production. b. the economy grows as investments result in larger profits. c. government spending drives up prices because of greater competition for goods and services. d. consumers save more money and spend less buying goods and services.

Select the correct text in the passage.which sentences in the given passage explains the limitations of monetary policies? monetary policies - limitationsmonetary policies are set by the central bank to bring about growth in the economy.de can be achieved these policiesw at anden i sca poit would be fair to say that changes in the economy cannot be brought about instantly by monetary po des.monetary policy can only influence not control, economic growththe monetary policy makers do work on sining the perfect balance between demand and supply of money in the economy

Which of the following differentiates cost accounting and financial accounting? a. the primary users of cost accounting are the investors, whereas the primary users of financial accounting are the managers. b. cost accounting measures only the financial information related to the costs of acquiring fixed assets in an organization, whereas financial accounting measures financial and nonfinancial information of a company's business transactions. c. cost accounting measures information related to the costs of acquiring or using resources in an organization, whereas financial accounting measures a financial position of a company to investors, banks, and external parties. d. cost accounting deals with product design, production, and marketing strategies, whereas financial accounting deals mainly with pricing of the products.