________ means employees are hired for a specified period of time, typically to assist with heavy work periods or to temporarily replace an employee on leave

Patentex developed a new secret formula that is of great value because it resulted in a virtual monopoly. Patentex has capitalized all research and development costs associated with this formula. Greene, CPA, who is auditing this account, will probably

a. Confer with management regarding transfer of the amount from the balance sheet to the income statement b. Confirm that the secret formula is registered and on file with the county clerk's office c. Confer with management regarding a change in the title of the account to goodwill d. Confer with management regarding ownership of the secret formula

Which of the following would be an example of functional obsolescence?

A. A loss in value due to lack of maintenance and upkeep. B. A loss in value caused y something being outdated. C. An increase in value due to assemblage. D. An increase in value caused by lower interest rates.