Proprietary Technology Is Knowledge That Is

question 124

Multiple Choice

Proprietary technology is knowledge that is

• A)known but no longer used much.
• B)known,but only recently discovered.
• C)known mostly by only those in a certain profession.
• D)known only by the company that discovered it.

---

Definitions:

Net Income

The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue.

Sales

The total revenue generated from goods or services sold by a company.

Product Costs

Costs that are assignable to the production of goods, including direct materials, direct labor, and manufacturing overhead.

Period Costs

Expenses that are not directly tied to the production process and are recorded as expense in the period they are incurred, such as selling, administrative, and general expenses.