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- Which of the following does not have to be shown for copyright protection to be granted? Group of answer choices The work is original. The work is fixed in a durable medium. The work exhibits some degree of creativity. The work has a present or potential value.Which of the following amounts incurred in connection with a trademark should be capitalized? Cost of a Successful Defense Registration Fees A) Yes No B) Yes Yes C) No Yes D) No NoWhich of the following cannot be protected as intellectual property? a. an idea b. an invention c. a trademark d. artistic expression
- Granting the exclusive right or privilege to another party for the performance of certain functions by the grantor or use of certain products and services is * A.copyright B.patent C.franchise D.goodwillAn exclusive right connected to an invention is called However if it is the right to produce, sell, or otherwise control the artistic work, we call it Both before mentioned items we can find in the accounting as part of the assets. licence patent tangible intangible copyright trademark currentIf what is promised is only the use of a specific thing which does not include its ownership, the contributing partner does not need to warrant the thing against eviction.
- 2. Mr. Ahmed sold an item, which is damaged prior to delivery for an intention from seller's control, and then the buyer can: a) Pay the invoice amount and accept the goods b) Accept the goods and pay later c) Accept the goods, but sue for damages d) Rescind the contractIf a trademark is developed internally, it cannot be recognized as an intangible asset on the statement of financial position. True or FalseDwayne Company, a manufacturer of viagra has had a lawsuit filed against it by Vic Incorporated, another manufacturer of viagra. The suit alleges patent right PROBLEM 26-28 Contingencies infringements by Dwayne Company and asks for compensatory damages. For the following likely situations, determine how Dwayne Company should report the information concerning the lawsuit. The choices are: a. Accrue and disclose b. Disclose only Accrue only d. Neither accrue nor disclose combrere 1000 iM 000,000,S9 С. 000 Assume the following independent cases: 1. Dwayne Company's legal counsel estimates that the infringement case may result in a loss of P2,000,000 but considers the likelihood of losing the case as remote. 2. Dwayne Company's legal counsel is convinced that the likelihood of losing the case is probable, the potential amount of the loss is estimated to be no P2,300,000. 3. Dwayne Company's legal counsel estimates that the infringement case may bad result in a loss of P2,400,000 but…
- Which among the following is not an intangible asset? Copyright Patent Trademark InventoryQuestion: Classify each of following items as a contingent liability, a provision or neither: (a) an unresolved lawsuit against the entity for copyright infringement? (b) allowance for doubtful debts? ********correct answer please*********33. A patent infringement suit may either be successful or unsuccessful. Which of the following statement is true? If the lawsuit is successful the cost of this lawsuit is expensed If the lawsuit is unsuccessful, the cost is recognized as amortization expense If the lawsuit is successful the cost is an impairment If the lawsuit is successful, the cost is capitalized
