Which of the Following Would Be an Example of Intellectual

question 22

Multiple Choice

Which of the following would be an example of intellectual property owned by an IT firm?

• A) software code
• B) real estate
• C) office stationery
• D) legal documents

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Definitions:

Ending merchandise inventory

The worth of products on hand for purchase at the conclusion of a financial period.

Rising prices

A situation in an economy where the general level of prices for goods and services is increasing over a period of time.

Inventory method

A system used by companies to keep track of the quantity and cost of inventory on hand and sold, including methods like FIFO (First In, First Out) and LIFO (Last In, First Out).

Average cost method

An inventory costing method that assigns the average cost of all similar items to the cost of goods sold and to ending inventory.