The following information relates to the intangible assets of University Testing Services (UTS): a. On January 1, 2021, UTS completed the purchase of Heinrich Corporation for $2,745,000 in cash. The fair value of the net identifiable assets of Heinrich was $2,450,000.
b. Included in the assets purchased from Heinrich was a patent valued at $92,000. The original legal life of the patent was 20 years; there are 12 years remaining, but UTS believes the patent will be useful for only eight more years
c. UTS acquired a franchise on July 1, 2021, by paying an initial franchise fee of $340,000. The contractual life of the franchise is 10 years.
Prepare the intangible asset section of the December 31, 2021, balance sheet

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

your welcome leave a rate and a < 3

it's obviously d. it could be c though.