A Mark Licensed by a Group That Has Established Certain

question 22

True/False

A mark licensed by a group that has established certain criteria for its use, such as "U.L. Tested" or "Good Housekeeping Seal of Approval," is known as a service mark.

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Definitions:

Cash Receipts

Monies received by a business, typically recorded during the period they are received.

Monthly Cash Budget

A detailed plan that estimates the cash inflows and outflows for a business over a specific month, assisting in management of cash resources.

Current Liabilities

Liabilities that will be due within a short time (usually one year or less) and that are to be paid out of current assets.

Capital Additions

Expenditures made by a company to acquire or improve long-term assets to increase its efficiency or capacity.