The exclusive right to use another company's name and to sell its products within a specified geographical area is a:

A) Patent.

B) Copyright.

C) Trademark.

D) Franchise.

Answer: D

A word, slogan, or symbol that distinctively identifies a company, product, or service is a:

A) Patent.

B) Copyright.

C) Trademark.

D) Franchise.

Answer: C

Research and development costs should be:

A) Expensed in the period incurred.

B) Expensed in the period they are determined to be unsuccessful.

C) Deferred pending determination of success.

D) Expensed if unsuccessful, capitalized if successful.

Answer: A