Exam 3: Organizing and Financing a New Venture

"Trademarks" are intellectual property rights that allow firms to differentiate their products and services through the use of unique marks.

The marginal tax rate for the first dollar of taxable income is higher for corporations than for individuals.

Which of the following are intellectual property rights in the form of inventions and information such as formulas,processes,and customer lists that are not generally known to others and which convey economic advantage to the holders?

Based on 2009 tax schedules,the highest marginal tax rate on corporate taxable income is:

Following is a partial 2009 personal income tax schedule for a single filer: Taxable Income -The dollar amount of income taxes paid by a single filer who has taxable income of $8,350 would be:

Which of the following are intellectual property rights granted for inventions that are useful,novel,and non-obvious?

The difference between a limited partnership and a general partnership is that the limited partnership has partners who actively manage the day-to-day operations but also has passive investors.

In which form of business organization is the taxation effects characterized by the income flowing to shareholders taxed at personal tax rates?

Patents,trade secrets,trademarks,and copyrights are intangible assets.

"Business method" is one kind of patent.

Based on 2009 tax schedules,the first dollar of corporate income is taxed at which of the following marginal tax rates:

An idea is enough to be patented.

Which of the following business organizational forms provides the owners with limited investor liability and passes its income before taxes through to the owners?

Professional corporations (PCs)and service corporations (SCs)are corporate structures that "states" provide for professionals such as physicians,dentists,lawyers,and accountants.

Following is a partial 2009 personal income tax schedule for a single filer: Taxable Income -The average tax rate for a single filer with taxable income of $82,250 would be:

Following is a partial 2009 corporate income tax schedule: -The average tax rate for a corporation with taxable income of $75,000 would be:

Which of the following is not a "type" of mark?

Following is a partial 2009 personal income tax schedule for a single filer: Taxable Income -The maximum dollar amount of income taxes in the $33,951-$82,250 "bracket" paid by a single filer with taxable income of $77,100 would be:

The rules and procedures established to govern the corporation are called the

Which form of business organization typically offers the easiest transfer of ownership?