Answer:
Buyer/seller
Explanation:
In the case of lean system it focused on the customer side while on the other hand the JIT i.e. Just in time focused on the manufacturing process i.e. efficiency
So in the case of lean or JIT system the burden for ensuring the production quality from vendor shifts is from the buyer to the seller
Therefore the above represents the answer
The available options are the following:
-Board members serve on multiple boards
-People with knowledge of the firm's history are replaced with those who may not know as much information
-Less frequent board meetings
-Better decisions about important issues
Answer:
-People with knowledge of the firm's history are replaced with those who may not know as much information
Explanation:
Considering the available options, the option that appears negative and related to the point being discussed is
"People with knowledge of the firm's history are replaced with those who may not know as much information."
It is straightforward, as changing the board of directors will at some point lead to a time where the new member in the board of directors will just be a competent worker but has no history with the company.
Complete Question:
Pribuss Engineering prepares its financial statements according to International Financial Reporting Standards. During 2018, the company incurred the following costs related to a new product design:
Research for New Design $2.4M
DVMPT of New Product $1.3M
Patent Filing Fees $52K
The development costs were incurred after technological and commercial feasibility was established and after the future economic benefits were deemed probable. The project was successfully completed and the new product was patented before the end of the 2018 fiscal year. What amount should Pribuss expense in its 2018 income statement related to the above expenditures?
Answer:
The Research expenses of $2.4M that are written as expense in the Income statement and the Development costs of $1.3M and patent legal fees of $53k are capitalized.
Explanation:
The reason is that the International Standard IAS 38 Intangible Assets says that the expenditure incurred on the research that hasn't entered development phase must be written as expense in the year and the expenditure incurred on the development phase of the research outcomes must be capitalized to the extent it is ready for use. In this case $1.3M is clearly a development cost and patent legal fees of $53k is the expenditure that will prepare the asset and making it ready for use, so it must also be capitalized.
Answer:
The answer is a. The "invention" sought to be patented is actually a living creature.
Explanation:
That is the answer. Because by the law, you actually "CAN" patent a living creature or an organism that you invented and that does not exist naturally.
So, a patent application CAN NOT be denied on the grounds that the invention is a living thing.
However, if a plant or any organism exists in nature and has reproduced, then it cannot be patented. Because then it has become a natural occurrence. This is a stern limitation and a criteria put on patents for living organisms.
Patenting living organism such as anti bacteria and bacteria is common in pharmaceutical industry while patenting unique seed types are common in agricultural sector.
