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IceJOKER [234]
3 years ago
9

How do patents encourage technological progress

Business
1 answer:
Setler79 [48]3 years ago
7 0
Patents are used to balance the right of the individual with the concept of the public good. In general, the purpose of a patent is two-fold: to allow the inventor of some new thing to retain exclusive rights as to its use for a limited period of time, and after that time to ensure that the details of the invention are available for public use. 
By granting the patent-holder exclusive rights to their invention, use and duplication of the invention is at the sole discretion of the inventor, potentially allowing them to profit from it. However, after a period of time those exclusive rights cease to apply, and the new invention becomes available to the public. This contributes to the public good by increasing the amount of general knowledge available.
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The bookkeeper for Sunland Company asks you to prepare the following accrual adjusting entries at December 31. (If no entry is r
VikaD [51]

Answer:

Explanation:

The adjusting entries are shown below:

A. Interest expense A/c Dr $370

            To Interest Payable            $370

(Being accrued interest adjusted)

B.  Accounts receivable A/c Dr $1,830

         To Service revenue A/c                $1,830

(Being unbilled amount recorded)

C. Salary expense A/c Dr $900

            To Salary Payable            $900

(Being earned salaries are recorded)

8 0
4 years ago
Select the correct answer. The word intestate means that a person has died with or without a will?
hjlf

It means that a person has died without a will.

8 0
3 years ago
The statement that provides the financial position of a company as of a specific date is the.
NemiM [27]

The statement that provides the financial position of a company as of a specific date is the balance sheet.

<h3>What is a statement of financial position?</h3>

A balance sheet is often known as a statement of financial situation. It serves as a summary of a company's financial situation at a specific moment.

A balance sheet is a summary of the financial positions of a person or an organization in financial accounting, regardless of whether they are a sole proprietorship, a business partnership, a corporation, a private limited company, or another type of organization like the government or a not-for-profit entity.

An organization's assets, liabilities, and shareholder equity are listed on a balance sheet, which is a financial statement. One of the three primary financial statements used to assess a company is the balance sheet. It offers a snapshot of the assets and liabilities of a corporation as of the publication date.

To learn more about balance sheet refer to:

brainly.com/question/1113933

#SPJ4

4 0
1 year ago
Which type of digital wallet maintains your e-commerce information on the seller's web site?
iren2701 [21]
The answer to this is s<span>erver-side </span><span>digital wallet or SSD.</span>
5 0
3 years ago
Suppose that weekly output is worth $1000, and labor and materials costs are $300 and $200,respectively. What is the multifactor
Georgia [21]

Answer:

c. 2

Explanation:

The multifactor  productivity ratio can be determined using the below mentioned formula:

Multi factor productivity=Output worth/cost of material+cost of labor

In the given question:

Output worth=$1,000

cost of material+cost of labor=$300+$200=$500

Multifactor productivity=$1,000/$500=2

So based on the above calculation, the answer is c. 2

4 0
4 years ago
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