Simon Has a Patent on a New Device He Invented

question 81

Multiple Choice

Simon has a patent on a new device he invented. Simon's patent is an example of which of the following?

• A) Intellectual property
• B) Real property
• C) Public property
• D) Contract property

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Definitions:

Cash Expenses

Expenses that require an immediate outflow of cash, as opposed to non-cash expenses like depreciation.

Beginning Cash Balance

The amount of cash a company has at the start of a financial period.

Short-Term Loan

A loan scheduled to be repaid in less than a year, typically used for immediate or emergency financial needs.

Net Cash Flow

The difference between a company's cash inflows and outflows over a specific period of time.