Predictive Data LLC Makes and Sells Software That Enables a Business

question 62

Multiple Choice

Predictive Data LLC makes and sells software that enables a business to target its advertising precisely. The company could successfully bring an action for copyright infringement against a competitor who copies

• A)the screen displays of the software.
• B)the parts of the software that can be read by humans.
• C)the menus of the software.
• D)any of the choices.

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Definitions:

Adjusted Net Income

Net income adjusted for specific expenses, revenues, gains, or losses to provide a clearer picture of operational performance.

After-Tax Net Income

The amount of profit left over after all expenses, including taxes, have been deducted from total revenue; represents the bottom line for a company.

Cost Method

An accounting approach used for investments where the investor has little to no influence over the investee, recording the investment at cost and recognizing income only when dividends are received.

Elimination

In accounting, the process of removing intercompany transactions and balances from the financial statements of a group of companies consolidated as one entity.