Business, 19.11.2020 18:40 skeletonorchestra

Dennis Manufacturing purchased a patent for a bicycle. The patent had a remaining legal life of 3 years, but Dennis thought the bike would be popular for 20 years, so they amortized the cost of the patent over 20 years. How will this affect the accuracy of Dennis Manufacturing’s financial statements?

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Dennis Manufacturing purchased a patent for a bicycle. The patent had a remaining legal life of 3 ye...

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