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Can some one help me with these accounting questions please?

  
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Can some one help me with these accounting questions please?

Postby napayshni65 » Wed Mar 21, 2012 1:31 pm

5. A patent:
a .Gives its owner the exclusive right to publish and sell a musical or literary work during the life of the creator plus 50 years
B.Gives its owner the exclusive right to publish and sell a musical or literary work during the life of the creator plus 17 years
C.Is an exclusive right granted to its owner to manufacture and sell a device or to use a process for 20 years
D.Is the amount by which the value of a company exceeds the fair market value of a company's net assets if purchased separately
E.Is an exclusive right granted to its owner to manufacture and sell a device or to use a process for 50 years

6.Extraordinary repairs
A. Are expensed as incurred
B.Are credited to accumulated depreciation
C.Extend an asset's useful life beyond its original estimate
D.Are revenue expenditures
E.Are additional costs of plant assets that do not materially increase the asset's life
napayshni65
 
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Can some one help me with these accounting questions please?

Postby fionnbharr » Wed Mar 21, 2012 1:34 pm

5. A patent:
C.Is an exclusive right granted to its owner to manufacture and sell a device or to use a process for 20 years

6.Extraordinary repairs
C.Extend an asset's useful life beyond its original estimate
fionnbharr
 
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