General Motors (GM), a U.S. automotive manufacturer, has an arrangement with Isuzu Motors of Japan in which the Isuzu Ascender is produced at the same GM manufacturing plant as the Chevrolet TrailBlazer and GMC Envoy. All three vehicles use the same basic platform and engine. This is an example of licensing.
Answer the following statement true (T) or false (F)
False
Licensing means selling the right to use some process, trademark, patent, or other right for a fee or royalty. Sharing the same platform is not an example of licensing.
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In a public company, management must assess and report on internal control over financial reporting.
Answer the following statement true (T) or false (F)
The debt/tangible net worth ratio:
a. is the same as the debt ratio. b. has the same objectives as the debt/equity ratio. c. includes both liabilities and shareholders' equity in the denominator. d. is a uniform computation across different companies.
A particular segment of the business market includes those individuals and organizations that purchase goods and services for the purpose of making a profit. They achieve this goal by using purchased goods and services to make other goods, to become part of other goods, or to facilitate the daily operations of the organization. This group is called the _____ segment of the business market.
A. institution B. reseller C. wholesaler D. producer E. government
Hache Corporation uses the weighted-average method in its process costing system. The first processing department, the Welding Department, started the month with 17,000 units in its beginning work in process inventory that were 20% complete with respect to conversion costs. The conversion cost in this beginning work in process inventory was $7,480. An additional 89,000 units were started into production during the month and 92,000 units were completed in the Welding Department and transferred to the next processing department. There were 14,000 units in the ending work in process inventory of the Welding Department that were 90% complete with respect to conversion costs. A total of $202,400 in conversion costs were incurred in the department during the month. The cost per equivalent unit
for conversion costs for the month is closest to: A. $2.007 B. $1.965 C. $2.200 D. $2.274