Intellectual property laws stimulate innovation and creative work
Indicate whether the statement is true or false.
TRUE
The philosophy behind intellectual property laws is to reward the originator of a new invention, book, musical record, clothes design, restaurant chain, and the like, for his or her idea and effort. Such laws stimulate innovation and creative work.
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Your firm has the following income statement items: sales of $50,250,000; income tax of $1,744,000; operating expenses of $10,115,000; cost of goods sold of $35,025,000; and interest expense of $750,000. What is the amount of the firm's gross profit?
A) $18,000,000 B) $15,225,000 C) $5,000,110 D) $6,632,000
The foreign exchange market provides a physical entity that transfers the purchasing power from one currency to another
Indicate whether this statement is true or false.