Which Statement Concerning Patents Is True

question 32

Multiple Choice

Which statement concerning patents is true?

• A) A patent in Australia gives the holder the exclusive right to produce and sell a particular product for a period of 70 years.
• B) Research costs spent on internal patent development cannot be recognised as an asset under IAS 38/AASB 138.
• C) A patent that is purchased from its holder is debited to an asset account and must be amortised over a 20 year period.
• D) A patent that has been capitalised is shown in the balance sheet on one line at its net value.

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Definitions:

Floating Object

An object in a document or presentation that can be positioned anywhere on the page, independently of the text or other content.

End-of-row Mark

A non-printing character or indicator used in document and spreadsheet software to signify the end of a row, important for formatting and data organization.

Columns

Linear arrangements of information or data, vertically aligned in a spreadsheet or table, used to structure data logically.

Custom Tab Stop

A feature in word processors that allows users to set specific positions for tab stops on the ruler.