Patents, copyrights, and trademarks establish ownership rights over what type of property?
A. Intellectual
B. Real
C. Tangible
D. Non-performing
E. Stolen
A
Intellectual property refers to property that is the product of intellectual activity, such as computer software, a screenplay, a music score, or the chemical formula for a new drug. Patents, copyrights, and trademarks establish ownership rights over intellectual property.
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Midtown, Inc uses a predetermined overhead allocation rate of $67 per direct labor hour
In January, the company completed Job A23 which utilized 18 direct labor hours. Which of the following correctly describes the journal entry to allocate overhead to the job? A) debit Finished Goods Inventory $1,206 and credit Manufacturing Overhead $1,206 B) debit Manufacturing Overhead $67 and credit Work-in-Process Inventory $67 C) debit Work-in-Process Inventory $1,206 and credit Manufacturing Overhead $1,206 D) debit Cost of Goods Sold $67 and credit Finished Goods Inventory $67
The seller of industrial products is part of the buyer's ________ and must provide timely inventory replenishment, service and maintenance, spare parts, and efficient order handling
A) supply chain B) communication channel C) service chain D) promotional program