The goal of reporting realistic figures and never overstating assets or net income applies to the ________

Broadway corporation was granted a patent on a product on January 1, 2001. to protect its patent, the corporation purchased on January 1, 2012 a patent on a competing product which was originally issued on January 10, 2008. because of its unique plant, broadway corporation does not feel th ecompeting patent can be used in producing a product. the cost of the competing patent should be

a. amortized over a maximum period of 20 years b. amortized over a maximum period of 16 years c. amortized over a maximum period of 9 years d. expensed in 2012

Under process costing, the total production costs incurred in each process must be split between the units that have been completed in that process and transferred to the next process and the ________

A) Finished Goods Inventory if it is the first process B) units not completed and remaining in Work-in-Process Inventory for that department C) Cost of Goods Sold when the units are sold D) Work-in-Process Inventory of the previous department when there are no sales