Accountants Liablility
Intellectual Property
Real Property
Personal Property
100
The principles or rules for preparing financial statements
What is GAAP (Generally Accepted Accounting Principles)
100
A grant by the government permitting the inventor exclusive use of an invention for a specified period
What is a patent
100
Land, buildings, plant life, and fixtures are examples of?
What is real property
100
Tangible property other than real property
What is personal property
200
International accounting principles that the SEC allows foreign compainies to use.
What is IFRS (International Financial Reporting Standards)
200
Any combination of words and symbols that a business uses to identify its products or services from others.
What is a trademark
200
The term for 2 or more people owning property at the same time
What is concurrent estates
200
The voluntary transfer of property from one person to another
What is gift
300
What is it called when accountants verify information provided by management?
What is an Audit
300
Has the life of the author plus 70 years
What is copyright term
300
The power of the government to take private property for public use
What is eminent domain
300
A person who gives property away
What is donor
400
A written contract by which a client hires an accountant
What is an engagement letter
400
The term for the idea that an invention must be new to be patentable
What is novelty
400
A court order awarding title of property to the government in exchange for just compensation
What is condemnation
400
Property the owner has intentionally placed somewhere and then forgotten
What is mislaid property
500
A company's financial statements fairly present its financial condition in accordance with GAAP
What is clean opinion
500
The term for the rule that an invention must be useful for its stated purpose to be patentable
What is utility
500
The right to inhabit the property in peace
What is quiet enjoyment
500
The one who delivers the goods
What is bailor
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