Which of the Following Is an Example of a Liability

question 36

Multiple Choice

Which of the following is an example of a liability?

• A) Allowance for doubtful debts.
• B) Revenue received in advance.
• C) Prepayments.
• D) Accumulated depreciation.

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Definitions:

Lanham Act

United States legislation that provides protection to trademarks, service marks, and related intellectual property to prevent consumer confusion and unfair competition.

Trade Dress Infringement

A violation of trademark law that occurs when one company's product design or packaging is so similar to another's that it misleads consumers about the product's origin.

Passing-Off Claim

A legal action taken to prevent or rectify the misrepresentation of goods or services as those of another.

Utility Patents

Utility patents are issued for the invention of a new and useful process, machine, manufacture, or composition of matter, or any new and useful improvement thereof.