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:

Average Tax Rate

The ratio of the total amount of taxes paid to the total tax base (taxable income or spending), expressing the percentage of income that goes to taxes.

Depreciable Equipment

Tangible assets used in operations that lose value over time due to wear and tear, which can be written off as an expense for tax purposes over its useful life.

Net Income

The ultimate profit a company makes, determined by taking away all expenses, taxes, and costs from the total income generated.

Cash Outflow

The total amount of money being transferred out of a business, including expenses, investments, and other payments.