Which of the Following Is True with Regard to Patent

question 12

Multiple Choice

Which of the following is true with regard to patent protection?

• A)The patent protection order is an order of the court requiring a person who stole and used a trade secret to make an accounting of all profit realized from its use.
• B)Unlike copyright,patent protection does not come automatically.It must be applied for.
• C)Patent protection for property lasts for a period of 15 years and is renewable,but it must be used during that time or it will be considered abandoned.
• D)Unlike copyright,patents can extend to "every original literary,dramatic,musical and artistic work" produced in Canada.
• E)Computer software is never patentable in Canada.

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Definitions:

Accounting Features

Characteristics or functionalities of accounting systems or software that help in recording, tracking, and analyzing financial transactions.

Weighted Average

involves calculating the average of various values where each value has a different level of importance or weight, commonly used in inventory valuation.

Ending Inventory

is the total value of all inventory a company has in stock at the end of its financial period, important for determining cost of goods sold and net income.

Perpetual Inventory System

A method of accounting for inventory that continuously updates inventory records after each purchase or sale.