Because the Copyright on the L

question 250

Multiple Choice

Because the copyright on the L. Frank Baum book The Wonderful Wizard of Oz expired many years ago, the actual written words from the book are in the public domain. Publishers who now choose to sell their own versions of the book

• A) can claim copyright of Baum's words if they are the first to publish the book after the original copyright expired.
• B) can claim copyright of Baum's words no matter how many versions are published, since the original is in the public domain.
• C) cannot claim copyright of Baum's words since they are in the public domain, but can claim copyright on any new design or illustrations created for the book.
• D) cannot claim copyright of Baum's words, or on any new design or illustrations created for the book, since the original written words are in the public domain.

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Definitions:

Adjusting

The act of making entries to update the financial statements to more accurately reflect revenues and expenses for a specific reporting period.

Operating Activities

The day-to-day activities of producing and selling goods and/or services, which are reflected in the cash flow statement.

Indirect Method

A way of calculating cash flows in the cash flow statement, where net income is adjusted for changes in non-cash items and working capital.

Net Income

The total profit of a company after all expenses and taxes have been deducted from total revenue.