C is corrent. Changes in accounting estimates are reflected prospectively. The solutions approach is to determine the yearly amortization for year 1-year 3, the book value of the patent at 1/1/Y4, and finally, the year 4 amortization expense.
A is incorrect. Changes in accounting estimates are reflected prospectively. The solutions approach is to determine the yearly amortization for year 1-year 3, the book value of the patent at 1/1/Y4, and finally, the year 4 amortization expense.
B is incorrect. Changes in accounting estimates are reflected prospectively. The solutions approach is to determine the yearly amortization for year 1-year 3, the book value of the patent at 1/1/Y4, and finally, the year 4 amortization expense.
A is incorrect. Changes in accounting estimates are reflected prospectively. The solutions approach is to determine the yearly amortization for year 1-year 3, the book value of the patent at 1/1/Y4, and finally, the year 4 amortization expense.
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