All of the Following Are Necessary Criteria for Obtaining a Patent

question 21

Multiple Choice

All of the following are necessary criteria for obtaining a patent except:

• A)the product idea has profit potential
• B)the product idea is new
• C)the product idea is not obvious
• D)the product idea has utility

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Definitions:

Financial Statement

Documents that provide an overview of a company's financial condition, including balance sheet, income statement, and cash flow statement.

Permanent/Temporary

Refers to the classification of accounts or differences; permanent accounts are ongoing and not closed at the end of the accounting period, whereas temporary accounts are closed and reset.

Normal Balance

The side (debit or credit) of an account that is typically increased.

Financial Statement

A documented account of financial transactions and standing for businesses, individuals, or alternative entities.