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Doffen Company acquired software licenses for $100,000 on July 1st, 2023. The licenses have an expected useful life of 4 years with no residual value.
- Doffen Company acquired software licenses for $100,000 on July 1st, 2023. The licenses have an expected useful life of 4 years with no residual value. Doffen Company uses the straight-line depreciation method. Determine if the acquisition of software licenses should be considered material for the fiscal year ending December 31st, 2023, based on the materiality principle.
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Cost Management Accounting and Control
Authors: Don R. Hansen, Maryanne M. Mowen, Liming Guan
6th Edition
978-0324559675
