Which of the Following Is NOT True About Intellectual Property

question 14

Multiple Choice

Which of the following is NOT true about intellectual property?

• A) Intellectual property is information, material, or processes that were created by and belong to a person or corporation.
• B) Information that is on the Internet is in the public domain.
• C) Give credit to those who own material you use by citing sources in the slide show and presentation handout.
• D) Recipes, codes, and manufacturing processes are trade secrets.

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Definitions:

Withdrawals

Money or assets taken from a business by its owner(s) for personal use, typically reducing the total equity.

Cash

Liquid currency and assets readily convertible to currency, used by businesses to conduct transactions.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, representing the owners' claim on the business assets.

Withdrawals

Funds taken out from a business by its owner(s) for personal use, which reduce the capital accounts in the company’s equity section.