"BioLabs Does Not Want to Sell the Technology, but BioLabs

question 103

Multiple Choice

"BioLabs does not want to sell the technology, but BioLabs is willing to allow us to legally use the technology for a fee," said Sylvia Sparks, sales professional, "and I would like to use the technology in our proposed project for TopFlight Construction." Lee Jaffrey, Division Manager, replied, "OK. I'm fine with that. I will approve expenditure for a(n) ________ fee."

• A) processing
• B) license
• C) customs
• D) patent
• E) lading

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Definitions:

Processing

The action of performing a series of mechanical or chemical operations on something in order to change or preserve it.

Clearing

The process of reconciling purchases and sales of various options, futures, or securities, and the direct transfer of funds from one financial institution to another.

Net Float

The difference between checks written against and deposited in an account, before those checks have been cleared and settled.

Money Market Securities

are short-term financial instruments, such as treasury bills and commercial paper, that provide liquidity and relatively low risk.