The Identification That a Firm Has Legally Registered Its Brand

question 65

Multiple Choice

The identification that a firm has legally registered its brand name or trade name so the firm has its exclusive use, thereby preventing others from using it, is referred to as a

• A) brand name.
• B) copyright.
• C) trademark.
• D) label.
• E) trade name.

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Definitions:

Administrative Costs

Expenses related to the general operations of a business that are not directly tied to the production of goods or services.

Direct Material

Raw materials that can be directly traced to the production of a specific product.

Product Costs

Costs that are considered to be directly associated with the production of goods or services, including direct labor, direct materials, and manufacturing overhead.

Depreciation

The allocation of the cost of tangible assets over their useful lives, reflecting the decrease in value due to wear and tear, age, or obsolescence.