Both China and India have achieved high growth rates despite relatively weak property rights regimes and high levels of corruption, because of:
A. the shift toward a communist ideology.
B. their high living standards.
C. their large population.
D. their high consumer purchasing power.
E. the shift toward a market-based economic system.
E
Both China and India have achieved high growth rates despite relatively weak property rights regimes and high levels of corruption. In both countries, the shift toward a market-based economic system has produced large gains despite weak property rights and endemic corruption.
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Indicate whether this statement is true or false.
During 2016, Frank Company incurred $200,000 in legal fees in defending a patent with a carrying value of $3,500,000 against an infringement. Farver's lawyers were successful with the defense of the patent. The legal fees should be
A) expensed in 2016 and classified as ordinary expense. B) classified as an extraordinary item on the income statement for 2016. C) capitalized and amortized over the remaining legal life of the patent. D) capitalized and amortized over the remaining economic life or legal life of the patent, whichever is shorter.