The cost of an intangible asset includes all of the following except
a. purchase price.
b. legal fees.
c. other incidental expenses.
d. all of these are included.
Answer: d. all of these are included.
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A lender charges an additional fee of 1/8% per annum for processing loans to non-English speaking applicants since the lender must hire non-English speaking employees to communicate with these borrowers. This would be considered:
a. good business practice b. an unethical business practice as defined in the UCC c. legal in the lender must pay higher wages to accommodate the non-English speaking clients d. a form of illegal discrimination
A "with average" policy contains a ________ that provides for payment only if the loss exceeds a specified minimum amount
A. Himalaya Clause B. franchise clause C. constructive loss clause D. loss payee clause