Inventors Seeking to Expand Their Patent Protection to Other Countries

question 90

True/False

Inventors seeking to expand their patent protection to other countries must file appropriate patent applications in each country in which protection is desired.

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Definitions:

Deferred Tax

The amount of income tax payable/recoverable in future reporting periods in respect of temporary differences and tax losses.

Balance Date

The date on which a company's financial year ends and financial statements are prepared to reflect the company's financial position.

Accounting Adjustments

Entries made in accounting records at the end of a period to correct accounts before the financial statements are prepared.

Temporary Differences

Differences between the carrying amount of an asset or liability in the statement of financial position and the asset’s or liability’s tax base.