Intellectual Property ________

question 1

Multiple Choice

Intellectual property ________.

• A)includes land and buildings
• B)includes stocks and bonds and money in the bank
• C)is the intangible product of creative effort
• D)is protected by copyrights and patents
• E)Both C and D are correct.

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Definitions:

Liabilities

Financial obligations or debts owed by a business to others, which must be settled over time through the transfer of economic benefits.

Assets

Resources owned or controlled by an entity that are expected to produce economic value.

Balance Sheet

A Balance Sheet is a financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, providing insight into its financial condition.

Service Revenue

Service revenue is the income a company generates from providing services, as opposed to selling physical goods.