Frank Was Able to Design a Pair of Sunglasses That

question 18

Multiple Choice

Frank was able to design a pair of sunglasses that could be folded and put into a case that easily fits into a shirt or pant pocket.Frank wants to know if he can receive a patent on this invention.What would you tell him?

• A) He can receive a patent since it is useful.
• B) He cannot receive a patent since he is merely changing the size and making the sunglasses more portable.
• C) It is patentable, but only if the sunglasses are not made out of plastic.
• D) It is patentable because sunglasses are products.

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Definitions:

Prepaid Expenses

Costs incurred before receiving goods or services that are expected to be provided later.

Accounts Receivable

Funds that are due to a company from its customers for goods or services that have been delivered or sold but not yet paid for.

Inventories

are the raw materials, work-in-progress products, and finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale.

Operating Expense

Operating expense refers to the costs associated with the day-to-day operations of a business, excluding direct production costs.