Why Did Thomas Edison Vow That He Would Work Only

question 57

Multiple Choice

Why did Thomas Edison vow that he would work only on ideas for things that people would buy?

• A) only things that people will buy produce a social benefit.
• B) only ideas that people will pay a high price for are protected by patents.
• C) he wanted to hold the record for registering the most patents.
• D) no government would buy his first patented invention.

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Definitions:

Residual Value

The estimated value of a fixed asset at the end of its useful life, reflecting what it could be sold for or its disposal cost.

Depreciation

An accounting method of allocation that spreads the cost of an asset over its useful life to account for its decrease in value over time.

Book Value

The net value of a company's assets minus its liabilities, often used to assess a company's worth.

Impaired Goodwill

The decrease in the value of a company's goodwill, often due to adverse changes in the business or market conditions, requiring a write-down in accounting.