Which of the Following Statements Is True of the Economic

question 107

Multiple Choice

Which of the following statements is true of the Economic Espionage Act (EEA) ?

• A) Acts of standard trade secret misappropriation by individuals is beyond its scope.
• B) The EEA excludes intentional misappropriation of trade secrets by firms or individuals.
• C) The EEA allows local bodies, authorities, private individuals, and others to bring a case of misappropriation but excludes the federal government.
• D) One of the provisions of the EEA makes one liable for misappropriation to benefit a foreign government.
• E) The EEA does not have any provision that addresses espionage.

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Definitions:

Vouchers Payable

Represents liabilities or amounts owed by a company to its suppliers or vendors, documented through vouchers.

Periodic Method

A method of inventory accounting where updates to inventory levels and cost of goods sold are made at the end of an accounting period.

Gross Method

An accounting method where purchases are recorded at their full purchase price without deducting any cash discounts.

Periodic Inventory Method

An accounting practice where inventory levels and cost of goods sold are calculated at predetermined intervals, such as monthly or annually.