A Famous Musician Sells the Copyright of One of His

question 23

Multiple Choice

A famous musician sells the copyright of one of his songs to a record company for $2 million. In this scenario, the sale of the copyright of the song exemplifies the sale of a(n) _____.

• A) current liability
• B) operating liability
• C) tangible asset
• D) intangible asset

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Definitions:

Michigan

A state located in the Great Lakes region of the United States known for its manufacturing industry and natural beauty.

Legal Services

Professional services provided by qualified lawyers or law firms regarding legal issues, rights, and responsibilities.

Lower Cost

A reduction in the expenditure or price of goods, services, or operational activities.

Improve Efficiency

Strategies or actions taken to increase the productivity and effectiveness of a process or system.