The Opening Feature Focuses on DripCatch, a Company That Makes

question 65

Multiple Choice

The opening feature focuses on DripCatch, a company that makes a device that catches water that drips off of glassware when it comes out of the dishwasher. The central form of intellectual property that DripCatch is hoping to benefit from is a(n) ________.

• A) patent
• B) Internet domain name
• C) license
• D) trademark
• E) copyright

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Definitions:

Accounts Receivable

Accounts receivable is the money owed to a business by its clients or customers for goods or services delivered but not yet paid for.

Electronic Funds Transfer

A system that allows the transfer of money between bank accounts without the physical exchange of cash, checks, or other negotiable instruments.

Outstanding Checks

Checks that have been issued and recorded in the payer's financial statements but have not yet been cashed or cleared by the bank.

Bank Reconciliation

The method of aligning the figures in a company's financial records for a cash account with the relevant data on a bank statement.