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In January, 2008, Sanford Corporation purchased a patent for a new product for $1,200,000. The patent was valid for fifteen years but it was estimated to have a useful life of ten years. During 2013 the product was permanently removed from the market due to a government order. What amount should Sanford charge to expense during 2013?A. $800,000B. $600,000C. $120,000D. $80,000
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PROTECTIVE TRUSTS The income of property may be settled on such terms as to restrict its availability to creditors of the beneficiary in the following ways: (a) Determinable
write a short note of concept and convention
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basics
Receiver appointed by court If appointed by the court, the receiver must give security as directed by the court. The following notification must be given: (a) The debenture h
Q. Which one of the following is not necessary in order for a corporation to pay a cash dividend? a. Adequate cash b. Approval of stockholders c. Declaration of dividends by the bo
What are features of branch accounts?
Show the rectification entries for the following: (10 marks) a. The Sales account is undercast by Rs.15,000 b. Goods returned by
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