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Patents and goodwill are both (Long lived - Short Lived) assets. A patent provides the ( exclusive - inclusive) right to make use of an invention or process for a (specific period - unlimited) of time, usually 20 years. Goodwill is the excess of cost of (purchasing - selling)another company over the sum of the(cost value - fair value) of its net asset. A patent has(a finite - an indefinit) life, which may be measured, goodwill has (a finite- an indefinite) life. A patent is amortized over (20 years - its cost - its useful life). Amortization is usually computed using the (double-diminishing balance method - straight-line method - units of production method). The value of goodwill (changes, unless - does not change when - does not change, unless) it is impaired. Impairment results when the recoverable amount for the goodwill is (equal to- greater than- less than) the carrying amount. IFRS requires that companies review the value of their goodwill (annually-monthly - periodically) and write down the value of the goodwill if it is (equal to-greater than-less than) the carrying amount.

accountng patant and gosdwl Dafna Datoncs and goodwl, which are botnangiblQ 200ts. Eclan how the Patents and goodwll are both Gcedmill a the A patent is amortized over The amortizaton is recordedas: difors betoon a patent and goocul. assets. A pstent provides the ight to make use of an invention or process fora of me, usualy 20 ysars alis ne ances of cs orancer company r sm tf t nGt asse A palanc haso wnich may bo messured godut nae T nother company over ne sum of the af ta nat aacot A patont has ifo, which may bo mouedgoodwl haa Amortizaion is usualy computed usng the Tho val o of gocdwil rdImpimentru wen hmutor the goowt n aryng amount FRS rnourns that compansras te vaks af thar geoandw n anying amourt ma carrying amount. FRS roauros that oompanies roew vake ot thor goodwill The wrhe down is recorded 8s accountng patant and gosdwl Dafna Datoncs and goodwl, which are botnangiblQ 200ts. Eclan how the Patents and goodwll are both Gcedmill a the A patent is amortized over The amortizaton is recordedas: difors betoon a patent and goocul. assets. A pstent provides the ight to make use of an invention or process fora of me, usualy 20 ysars alis ne ances of cs orancer company r sm tf t nGt asse A palanc haso wnich may bo messured godut nae T nother company over ne sum of the af ta nat aacot A patont has ifo, which may bo mouedgoodwl haa Amortizaion is usualy computed usng the Tho val o of gocdwil rdImpimentru wen hmutor the goowt n aryng amount FRS rnourns that compansras te vaks af thar geoandw n anying amourt ma carrying amount. FRS roauros that oompanies roew vake ot thor goodwill The wrhe down is recorded 8s

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