Riley invents a new valve to cap undersea oil spills. He names the valve "Great Catch.". He also writes the installation manual to be included with each valve. Riley can obtain copyright protection for
a. the valve.
b. the "newness" of the valve.
c. the name.
d. the installation manual.
d
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How will consumers likely come to perceive an upscale brand that is priced too low or is frequently on sale?
What will be an ideal response?
On December 2, 2014, Loofa Company, which operates a furniture rental business, traded in a used delivery truck with a carrying amount of $5,400 for a new delivery truck having a list price of $16,000 and paid a cash difference of $7,500 to the dealer. The used truck had a fair value of $6,000 on the date of the exchange. The exchange has commercial substance. At what amount should the new truck
be recorded on Loofa's books? a. $10,600 b. $12,900 c. $13,500 d. $16,000
Answer the following statements true (T) or false (F)
The American Accounting Association was originally called the American Society of Certified Public Accountants.
A purchase invoice of $500 with a trade discount of 10% and credit terms of 2/10, n/30, is not paid within the discount period. A check should be sent for:
a. $500. b. $490. c. $450. d. none of the above.