Intellectual Property Can Best Be Described as

question 49

Multiple Choice

Intellectual property can best be described as

• A) intangible property created by individuals or corporations.
• B) the expression of an intangible idea.
• C) unique creative work or ideas.
• D) tangible or intangible property created from a unique idea.

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Definitions:

Guaranteed Residual Value

The predetermined value of a leased asset at the end of the lease term, guaranteed by the lessee or a third party.

Present Value Interest Factors

A factor that is used to determine the present value of a future sum or series of future payments, discounted at a specific interest rate.

Guaranteed Residual Value

The predetermined value at which a leased asset is guaranteed to be valued at the end of the lease term, affecting lease payments and accounting.

Maintenance Agreement

A contract between a vendor and a customer stipulating regular maintenance services and support over a specified period.