1. When a patent is amortized, the credit is usually made to a. the Patents account. b. an accumulated amortization accotint. c. a deferred credit account. d. an expense account. 2. Wriglee, Inc. went to court this year and successfully defended its patent from infringement by a competitor. The cost of this defense should be charged to a. patents and amortized over the legal life of the patent. b. legal fees and amortized over five (5) years or less. c. expenses of the period. d. patents and amortized over the remaining useful life of the patent. 3. Wriglee, Inc, went to court this year to defend its patent from infringement by a competitor. Unfortunately, the court determined that this defense was tusuccessful. The cost of this defense should be charged to a. patents and amortized over the legal life of the patent. b. legal fees and amortized over five (5) years or less. c. expenses of the period. d. patents and amortized over the remaining useful life of the patent. 4. Goodwill may be recorded when a. it is identified within a company. b. one company acquires another in a business combination. c. the fair value of a company's assets exceeds their cost. d. a company bas exceptional customer relations. 5. Amazing Company compiled the following information for its patent at 12/31/22 : Amazing's 2022 income statement should record a loss on impairment of a. 50 . b. $20,000. c. $200,000. d. $2,220,000