In Bowman v. Monsanto, where Bowman used Monsanto's patented Roundup Ready seeds and, in violation of the contract provided by Monsanto, kept seeds from his crop to use next year so that the seeds had the genetic composition of the Monsanto seeds. The Supreme Court held that:
a. Monsanto could prevent Bowman from making new patented seeds
b. Monsanto's patented product could not be sold with restrictions on use
c. Monsanto's patent had expired by the time of the litigation, so the case was moot
d. Monsanto's patent had been incorrectly granted as it applied to genetic material
e. none of the other choices are correct
a
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If the actual amount of direct materials used equals the standard amount of direct materials that should have been used, the difference between the standard cost and actual cost of direct materials is called the
a. price variance. b. rate variance. c. quantity variance. d. efficiency variance.
Assets that you purchase for the purpose of accumulating wealth to satisfy your financial goals are called
A) monetary assets. B) intangible assets. C) investment assets. D) all of the above.
It is often mentioned that quality in service operations is different than in manufacturing operations. Explain why and how this creates unique challenges for the management of service operations.
What will be an ideal response?
The equivalent annual cost method is most useful in determining:
A) the annual operating cost of an idle machine that is currently owned by a firm. B) the tax shield benefits of depreciation given the purchase of new assets for a project. C) operating cash flows for cost-cutting projects of equal duration. D) which one of two machines to acquire given equal machine lives but unequal machine costs. E) which one of two machines to purchase when the machines are mutually exclusive, have differing lives, and will be replaced.