In Addition to Seeking Ideas from More Well-Known Sources, Organizations

question 88

Multiple Choice

In addition to seeking ideas from more well-known sources, organizations also get ideas from universities, inventors, and smaller, nontraditional firms. For example, General Mills partnered with Brigham Young University to license its patent for

• A) scones with coffee-flavored cream frosting.
• B) an Omega-3 enriched SKU for the Philadelphia cream cheese line.
• C) a carbonated yogurt called Go-Gurt Fizzix.
• D) deep fried chicken skins for people who cannot eat pork.
• E) a crispy baked macaroni and cheese snack that can be eaten out of a bag like Cheetos.

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Definitions:

Receiving Report

A document used in businesses to record the receipt of goods from a supplier, detailing quantities and condition of the items.

Merchandise Inventory

Products a business maintains with the intent to sell to consumers as part of its regular operations.

Freight-In

Costs associated with bringing inventory to a business location, typically included in the inventory cost on the balance sheet.

F.O.B. Shipping Point

A shipping term indicating that a buyer is responsible for the goods, including the risk of loss and transportation cost, from the time they leave the seller's premises.