Gem Corp. purchased all the assets of a sole proprietorship, including the following intangible assets: Goodwill $50,000 Covenant not to compete 13,000 For tax purposes, what amount of these purchased intangible assets should Gem amortize over the specific statutory cost recovery period

Grey company holds an overdue note receivable of $800,000 plus recorded accrued interest of $64,000. the effective interest rate is 8%. as the result of a court-imposed settlement on december 31, year 3, grey agreed to the following restructuring arrangement: reduced the principal obligation to $600,000.forgave the $64,000 accrued interest.extended the maturity date to december 31, year 5.annual interest of $40,000 is to be paid to grey on december 31, year 4 and year 5. the present value of the interest and principal payments to be received by grey company discounted for two years at 8% is $585,734. grey does not elect the fair value option for reporting the debt modification. on december 31, year 3, grey would recognize a valuation allowance for impaired loans of

Identify and describe a variety of performance rating scales that can be used in organizations including graphical scales, letter scales, and numeric scales.

Which of the following is considered part of a country’s infrastructure?