A Trade Name Cannot Be Protected If It Is Unusual

question 41

True/False

A trade name cannot be protected if it is unusual or fanciful.

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Definitions:

Declining-Balance Depreciation

A method of depreciation that results in larger depreciation expenses during the earlier years of an asset's life and smaller charges in the later years.

Straight-Line Depreciation

A method of computing depreciation for accounting purposes where an asset's cost is reduced uniformly over its useful life.

Tax Savings

Reduction in tax payments achieved through allowable deductions, credits, or adjustments.

Capital Budgeting

The method of assessing and choosing long-term investment opportunities that align with the company's objective of maximizing wealth.