A Cosmetics Company Owns a Patent for Particular Kind of Shampoo

question 15

Multiple Choice

A cosmetics company owns a patent for particular kind of shampoo which is a bestseller in the market.It enables the firm to extract a high level of discretion over product pricing.The patent for the shampoo is an example of a firm's _____ resource.

• A) tangible
• B) human
• C) natural
• D) intangible

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Definitions:

Collection

The process of pursuing payments of debts owed by customers.

Net Loss

Occurs when total expenses exceed total revenues during a specific period of time, indicating negative profitability.

Liabilities

Financial obligations or debts owed by a company to others, which must be settled over time by transferring economic benefits.

Expenses

The costs incurred in the process of generating revenue, such as rent, utilities, and salaries.