Which of the Following Statements Is Incorrect

question 31

Multiple Choice

Which of the following statements is incorrect?

• A)A copyright has a legal life not exceeding 70 years after the author's death.
• B)A trademark is recorded on the balance sheet at an amount equal to the related research and development costs incurred.
• C)A patent's legal life is 20 years.
• D)A franchise's amortization period is determined by the franchise agreement.

---

Definitions:

Research And Development

Activities undertaken by a company to innovate and introduce new products or improve existing products or processes.

Performance Perspectives

Different angles from which to evaluate and assess the performance of a company or organization, often used in strategic management and balanced scorecards.

Internal Processes

The procedures and activities carried out within an organization to achieve its business objectives.

Financial Perspective

A viewpoint focusing on the monetary aspects of an organization's strategy, often evaluated using financial performance indicators.