Which of the Following Statements Is True About Code Law

question 20

Multiple Choice

Which of the following statements is true about code law?

• A) In code-law countries, intellectual property rights are established by prior use.
• B) It is established based on the rulings from previous cases.
• C) It uses written norms, which are complemented by court decisions.
• D) In code-law countries, companies are granted the ability to operate by public authority.

---

Definitions:

Allocation

The process of assigning or distributing resources, costs, or expenses to various accounts or periods.

Deduct

Deduct refers to the act of subtracting an amount from a total, often used in financial contexts such as subtracting expenses or costs from income to calculate taxable income.

AGI

AGI, short for Adjusted Gross Income, is an individual's total gross income minus specific deductions, used to determine how much of one's income is taxable.

Rental Activity

Engaging in the act of renting out property or equipment as a business operation to generate income.