Which of the Following Statements Is True of a Trademark

question 52

Multiple Choice

Which of the following statements is true of a trademark?

• A) A word string such as "just do it" is a trademark.
• B) The last user of a trademark has exclusive rights over the trademark.
• C) Technically speaking, services have trademarks.
• D) Trademark is a description of product attributes in detail.

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Definitions:

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.

Income Summary

Income summary is an account where revenues and expenses are accumulated to calculate net income or loss for a specific period before transferring to the capital account.

Temporary Account

An account used to accumulate transaction information during a single accounting period, which is then transferred to permanent accounts.

Withdrawals

Amounts of money taken out from a business by the owner(s) for personal use, not considered a business expense.