Which of the Following Is Correct with Respect to Trade

question 22

Multiple Choice

Which of the following is correct with respect to trade secrets?

• A) There is no duty not to disclose trade secrets, unless specified in contract.
• B) Trade secrets include such things as formulas, patterns, recipes.
• C) The information must be fully disclosed under the provincial Trade Secrets Act.
• D) The employee need not be informed that the information is confidential.
• E) Personal information cannot be a trade secret, even if it affects the business.

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Definitions:

Accounts Receivable

Money that is owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.

Quick Ratio

A liquidity measure that indicates a company’s ability to pay its current liabilities without relying on the sale of inventory, calculated as (current assets - inventories) / current liabilities.

Liability Likelihood

Refers to the probability that a company will be responsible for payment due to a debt, claim, or lawsuit.

Interest Calculations

The process of determining the amount of interest owed or earned over a specific period of time, based on the principal amount and the rate of interest.