The guidelines for acceptable accounting principles and practices are known as

A responsibility report should

a) show only those costs that a manager can control. b) be prepared in accordance with generally accepted accounting principles. c) only show variable costs. d) only be prepared at the highest level of managerial responsibility.

Selling the rights to manufacture your company's product to an overseas company for a negotiated fee is:

A. Franchising B. Licensing C. Entering a joint venture D. Exporting E. Royalty facilitation