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FIFA Footballs acquired a patent in 2018 at a cost of $300 million and amortizes the patent on a straight-line basis. During 2021 management decided
FIFA Footballs acquired a patent in 2018 at a cost of $300 million and amortizes the patent on a straight-line basis. During 2021 management decided that the benefits from the patent would be received over a total period of 8 years rather than the 20-year legal life being used to amortize the cost. FIFA's 2021 financial statements should include: Multiple Choice A patent balance of $300.0 million. A patent balance of $204.0 million. Patent amortization expense of $30.0 million. Patent amortization expense of $15.0 million
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