If Walt Disney Company Produces a New Animated Movie for Children

question 37

Multiple Choice

If Walt Disney Company produces a new animated movie for children, they are likely to seek a to protect the work.

• A)copyright
• B)trade secret
• C)patent
• D)trademark

---

Definitions:

Earliest Units

The first units produced or acquired in a period, which are often accounted for differently in inventory costing methods.

Cost Of Goods Sold

The total cost directly associated with producing goods sold by a business, including materials and labor.

Perpetual Inventory System

An inventory system under which the company keeps detailed records of the cost of each inventory purchase and sale, and the records continuously show the inventory that should be on hand.

FIFO Method

An inventory valuation method that assumes the first items placed into inventory are the first sold, thus expenses are based on the oldest costs.