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Business, 21.05.2020 23:06 xxbloomxx184p8jqjd

FIFA Footballs acquired a patent in 2018 at a cost of $450 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:

Choices are

a patent balance of 450 million

patent amortization expense of 45 million

patent amortization of 22.5 million

patent balance of 306 million

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