COGNITIVE ASSESSMENT Which of the Following Statements Is Not True

question 91

Multiple Choice

COGNITIVE ASSESSMENT Which of the following statements is not true about intellectual property rights?

• A) The term fair use refers to the rights which creators are entitled for their work.
• B) Intellectual property refers to unique and original works such as ideas, inventions, company logos, and more.
• C) A copyright protects any tangible form of expression.
• D) Digital rights management is a strategy designed to prevent illegal distribution of digital content.

---

Definitions:

Adjusting Entries

Accounting records entries documented at the conclusion of an accounting cycle to distribute revenues and expenses to the period they genuinely took place.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary accounts' balances to permanent accounts and prepare the company's books for the next period.

Accounting Cycle

The process of recording and processing all financial transactions of a company, from when the transaction occurs, to its representation on the financial statements, followed by closing the accounts.

Financial Statements

Financial statements are formal records that outline the financial activities and position of a business, person, or entity. These include income statements, balance sheets, and statements of cash flows.