________ Licensing Is the Licensing of Proprietary Technology That the Licensor

question 40

Multiple Choice

________ licensing is the licensing of proprietary technology that the licensor typically controls by virtue of a utility patent.

• A) Skill
• B) Intellectual property
• C) Utility
• D) Technology
• E) Expertise

Calculate departmental net income using revenue and expense data.

Differentiate between direct and indirect expenses and their allocation to departments.

Allocate indirect expenses based on appropriate bases such as square footage, number of employees, or other relevant factors.

Prepare and interpret departmental income statements, including contribution margin.

---

Definitions:

Circular Flow

A model in economics that describes the movement of resources, goods and services, and money among different sectors in an economy.

Leakages-Injections Approach

An economic understanding and analysis of how savings, taxes, and imports (leakages) offset government spending, investments, and exports (injections) in the circular flow of income.

Value Added

The increase in worth of a product or service as a result of a particular process, often characterized by the difference between the price of the finished product and the cost of the inputs involved in making it.

Raw Materials

Basic materials extracted from natural resources or produced through agriculture, which are used in the production of goods and services.