When People Talk About U

question 45

Multiple Choice

When people talk about U.S. intellectual property rights, what are they talking about?

• A) The existence of high-quality educational institutions such as the Ivy League schools.
• B) Ideas and knowledge protected by patents and copyrights.
• C) The human capital of the U.S. labor force.
• D) The abstract nature of ownership in corporate organizations.

---

Definitions:

Ending Inventory

The financial value of items up for sale at the end of a fiscal period.

Lower of Cost or Market

An accounting principle requiring companies to value and report their inventory at the lower of the original cost or its current market price.

Inventory Item

An individual product or article that is held in stock by a business for the purpose of resale or production.

Inventory Value

The total cost or market value of all the goods held by a company meant for sale.