Antoine's Creamery, an Eastern Seaboard Ice Cream Producer, Wants to License

question 246

True/False

Antoine's Creamery, an eastern seaboard ice cream producer, wants to license firms in Europe to produce and sell its products. We can conclude that this is good strategy if it wants to save the money it would cost to be ISO 9000 certified because the EU (European Union), unlike U.S. firms, has not yet adopted these standards.

---

Definitions:

Financial Statements

Official records that detail the financial activities and condition of a business, organization, or individual, typically including balance sheet, income statement, and statement of cash flows.

Retained Earnings

The portion of a company's profits kept in the business after dividends are paid to shareholders, used for reinvestment or to pay off debt.

Non-controlling Interest

An ownership interest in a corporation where the percentage of shares owned does not give the shareholder the control of the company.

Debit Entry

An accounting entry that increases an asset or expense account, or decreases a liability or equity account.