Jason Worked as an Employee of MegaByte Industries,a Computer Conglomerate

question 25

Multiple Choice

Jason worked as an employee of MegaByte Industries,a computer conglomerate.As part of his job,he produced a unique program for routing emergency calls to the appropriate public emergency services departments.There is no written employee contract dealing with ownership of the program.This program can only be

• A)copyrighted by MegaByte.
• B)copyrighted by Jason.
• C)patented by MegaByte.
• D)patented by Jason.
• E)copyrighted by the public emergency services which use it.

Understand how personal financial decisions, like charitable donations, affect individual tax liabilities.

Understand the components that contribute to adjusted gross income.

Identify the various types of income and categorize them accurately (earned, passive, portfolio, etc.).

Recognize legitimate tax deductions and credits and distinguish between deductible and non-deductible expenses.

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Definitions:

Insurance Company

A business entity that provides financial protection and compensation for losses in exchange for payment of premiums.

Premium

The amount paid for an insurance policy or the charge for accepting a higher risk in financial transactions.

Business Interruption Insurance

An insurance that provides coverage for revenue lost due to a temporary business closure caused by an insured disaster.

Policy-Holder

An individual or entity who owns an insurance policy and is entitled to coverage under that policy.