Sid Maxwell (Scenario) Sid Maxwell Is the Head of Legal Affairs at Hudson

question 54

Multiple Choice

Sid Maxwell (Scenario)
Sid Maxwell is the head of legal affairs at Hudson Inc., an American toy manufacturer. Hudson's signature toy, the Witty Parakeet, includes an embedded software program that allows the bird to interact with children. Hudson is currently planning to expand its market in Asia but Sid is concerned about reports of software piracy in the region.
-Hudson uses a distinctive sign to enable its customers to easily identify its products. This distinctive sign that the company also uses to distinguish its offerings from that of its competitors is known as a ________.

• A) patent
• B) copyright
• C) trademark
• D) users' license

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Definitions:

Inventory

Represents the goods or materials a business holds for the purpose of resale or production.

Interest Expense

The cost incurred by an entity for borrowed funds, which can include the cost of bonds, loans, or lines of credit.

Opportunity Costs

The potential benefits an individual, investor, or business misses out on when choosing one alternative over another.

Sunk Costs

Costs that have already been incurred and cannot be recovered.