The statement mentioned is False. In reality It refers to Management Accounting.
The creation and application of accounting data tailored to the requirements of decision-makers outside the business organization is referred to as management accounting. Identification, measurement, analysis, interpretation, and communication of financial information to managers for the pursuit of an organization's objectives are all part of managerial accounting. Because its intended use is to support users within the company in making informed business choices, management accounting differs from financial accounting. The goal of managerial accounting is to enhance the quality of information provided to management about business operation parameters.
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Renzo wants to buy a cell phone that is within his budget. The sales person cannot lower the price of a chosen cell phone any further. What turn of events display the win-win strategy of negotiation in this case?
A. Renzo agrees to pay the quoted cell phone price and the sales person achieves the sales target.
B. Renzo agrees to pay the given cell phone price, and the sales person too provides a cell phone cover and an earphone for free.
C. Renzo walks out without purchasing the cell phone when the sales person still doesn’t relent.
D. Renzo purchases another cell phone of a lower price from the same store
It is advisable for Renzo for agreeing to pay the given cell phone price, and the sales person to provide a cell phone cover and an earphone for free in order to display an event of win-win strategy of negotiation. Therefore, the option B holds true.
What is the significance of win-win strategy?A win-win strategy, in sales and marketing terms, can be referred to or considered as the strategy wherein the customer also gets what he wants at the desired price and the business is able to achieve a sales.
In the above situation, when the sales person gives a case and an earphone for free along with the phone, the customer feels that it will not require him to spend more on them and will buy the product.
Therefore, the option B holds true and states regarding the significance of win-win strategy.
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How can Joseph’s increased debt affect the rest of his life?
Wanda has a strong desire to make the world a better place and is concerned with saving the planet. Therefore, she shops local, buys organic foods, and recycles regularly. Which of maslow’s needs do wanda’s actions fulfill?.
The Maslow's needs to do wanda's actions fulfill her self-esteem as wanda has a strong desire to make the world a better place and is concerned with saving the planet.
A person's behavior is influenced by five kinds of fundamental human wants, according to Maslow's hierarchy of needs, a theory of motivation. Among them are physical needs, safety needs, love and belonging needs, esteem wants, and self-actualization aspirations.
Courage, perseverance, self-belief, social and personal acceptance, and respect from others are all components of self-esteem. One of the critical steps in achieving pleasure or self-actualization is having these goals satisfied. Your sense of self-worth affects all of your decision-making, social relationships, emotional state, and general wellbeing.
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Suppose the market for desktop computers is in equilibrium. Intel develops a new process for producing computer chips which does not improve performance, but does allow more chips to be produced at a lower cost. What happens to the equilibrium price and quantity?.
The market for desktop computers is in equilibrium. Intel develops a new process for producing computer chips that do not improve performance but does allow more chips to be produced at a lower cost. So as a result Equillibiriun price falls, and quantity rises.
Equilibrium price, also called market clearing price, is the consumer cost attributed to a product or service for which demand and supply are equal or nearly equal. Manufacturers or sellers can sell units they want to move, and customers have access to units they want to buy.
Economic equilibrium is a situation in which economic forces such as demand and supply are in balance and the values of economic variables do not change without external influences.
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if you are to choose among the modern theory in management,what particular theory or combination of theories will you apply as a student
The Systems approach is the contemporary theory that I would employ as a student:
Quantitative, contingent, and systems approaches make up the three main categories of contemporary management theory. These strategies aid in achieving business goals and inspiring staff members.By establishing goals that would result in the accomplishment of organizational objectives, the systems approach is pursued. As a result, it can also be used in a student's life. One can create goals using this strategy and work hard to achieve them.It helps one become more self-assured and motivated to succeed. We can split the ultimate objective by defining goals in the same way that it is done in an organization by breaking the objective down into many components.For instance, if I want to hold a rank, I must study and give each subject the same amount of priority. I can split up my entire day to study several subjects for this. I can learn all the subjects and do well if I do it this way.
Consider scientific management, also referred to as Taylorism, which is likely the most well-established management theory ever. It implies that a manager's responsibility is to boost a production system's efficiency.
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The department of justice charged almost 50 people with a scheme to defraud the government for $250 million meant to go to __________________________________.
The Department of Justice charged almost 50 people with a scheme to defraud the government for $250 million meant to go to Child Nutrition Program
50 Defendants have been charged with federal crimes in connection with the $250 million Feeding Our Future fraud scheme, which involved the Minnesota nonprofit Feeding Our Future and over 200 meal sites. the nation's largest COVID-19 fraud scheme was carried out
Attorney General Merrick B. Garland stated, "These indictments, alleging the biggest pandemic relief fraud scheme filed to date, highlight the Department of Justice's continuing commitment to combatting pandemic fraud and holding those responsible for it accountable."
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what types of success metrics, kpis, kris, benchmarks, end-state goals, or enterprise level analytics platform features constitute as potential high priority factors when determining which platform to purchase and integrate?
Besides, the 4 KPIs that constantly come out of these workshops are:
purchaser delight, internal system extremely good, worker pleasure, and financial overall performance Index.
KPIs or Key overall performance signs are the metrics with the aid of the use of which you gauge enterprise-crucial initiatives, targets, or dreams. The operative word in the phrase is “key,” which means they have particular or massive meanings. KPIs act as measurable benchmarks in the direction of described goals.
Key universal performance indicators, or KPIs, are a pertinent part of measuring the successes and failures of your business business enterprise. additionally known as a flash document or dashboard, a KPI permits business organisation owners and bosses to get an define of the way their business enterprise or character departments is acting at any given time.
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you have spent $1,000 building a hot-dog stand based on estimates of sales of $2,000. the hot-dog stand is nearly completed, but now you estimate total sales to be only $800. you can complete the hot-dog stand for another $300. should you complete the hot-dog stand? (assume that the hot dogs cost you nothing.)
I have spent $1,000 building a hot-dog stand based on estimates of sales of $2,000. the hot-dog stand is nearly completed, but now you estimate total sales to be only $800. you can complete the hot-dog stand for another $300. should you complete the hot-dog stand? yes
What does the term "hotdog" mean?A company that sells hot dogs, typically from an outside counter, is called a hot dog stand. A hot dog stand might be found on a busy street, close to a stadium, within a mall, or at a fair. Major American cities' streets frequently contain them.
Is a hot dog stand successful?Like a retail establishment, location is crucial for hot dog carts because their revenue is primarily dependent on foot traffic. Having said that, a hot dog stand can be highly successful. A recent ABC News piece claimed that a year-round hot dog vendor might make six figures of income.
How much money do NYC hot dog stands make?Owners of hot dog stands make an annual profit of roughly $100,000 (R1. 34 million) thanks to heavy foot traffic, extended hours, and the low cost of producing a hot dog. New York City hot dog stand.
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customer relationship management software would be most likely to affect which income statement account? multiple choice interest expense selling, general, and administrative expenses (sg
The Revenue income statement accounts would most likely be impacted by customer relationship management software.
What is Revenue income?The total income derived from the sale of products or services about a business's core operations is referred to as revenue. Because it appears at the top of the income statement, revenue, which is also known as gross sales, is frequently referred to as the "top line." A company's overall earnings or profit are referred to as income or net income. Revenue, which is determined by multiplying the average sales price by the number of units sold, is the money made from regular business operations. The top line (or gross income) formation is what is used to compute net income by subtracting costs. Deals are another name for revenue in the earnings report.To learn more about Revenue income, refer to:
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Which consumer group tends to show more brand loyalty and make shopping a family event, with children having a big say in the purchase decision?
Hispanic Americans consumer group tends to show more brand loyalty and make shopping a family event, with children having a big say in the purchase decision.
Brand loyalty results in low-effort decisions as there are some consumers who simply buy the products of the same brand all the time. However, there is a high involvement with the brand. Such as the Hispanic Americans consumer group which tends to show more brand loyalty.
Hispanic American consumers are more likely to engage in unique shopping activities. They also tend to shopping a family event, where the children having a big say in their various products purchase decisions.
Hence, Hispanic Americans show brand loyalty by repeating purchases of a particular brand based on the perception of higher quality and better service.
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the population of maricopa county has been increasing for the past few decades. in 2016, the maricopa county population is approximately 3.817 million. if the population increases from the current population by 4.85 % over the next 5 years, what will the population be in 2021?
Population in 2016 = 3.817 million
Given that the population increases from the current population by 5.68% over the next 5 years i.e.,
In 2021 the population is 5.68% more than that of the 2016 population implies
Population in 2021
= (3.817 + 5.68*(3.817/100)) million
= (3.817 + (21.68056/100)) million
= (3.817 + 0.2168056) million
= 4.0338056 million
Therefore in 2021, the Maricopa County population is 4.0338 million
A population is a complete group of individuals, whether that group includes countries or groups of people with common characteristics. In statistics, a population is a pool of individuals from which a statistical sample is drawn for research.
The total number of people living in a particular area at a particular time is called population. The population is one of the important factors that contribute to the balance of the environment.
The population that should be The population of a given area is defined as the number of people normally residing in that area, measured on January 1st of a given year. The source is the latest census (the census is when the population is counted).
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The direct materials required to manufacture each unit of product are listed on a ________. multiple choice
a. bill of materials
b. materials requisition
c. materials ticket
d. job order cost sheet
Answer: A
Explanation:
Reasonable in amount means that expenditures cannot be exorbitant even if the amount is motivated by profit. True or false?.
A reasonable amount means that the expenditures cannot be excessive, even if the amount is motivated by profit. Highway speeding tickets may be deducted if speeding is committed as part of official activity. FALSE.
Expenditures are the total cost of purchasing a product or service. For example, a company purchases an estimated $10 million worth of equipment with five-year service life. This is classified as capital expenditure of $10 million. Not all costs are costs. Some examples of expenses are rent, utilities, and wages.
Expenses generate income and support the day-to-day operations of your business. Capital expenditures are used to increase the long-term value of a company. Cost is not necessarily the same as cost because cost represents a decrease in the value of an asset whereas cost simply represents the acquisition of the asset. Thus, costs are applied at a specific point in time, whereas costs can be incurred over a much longer period of time.
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An example of a country in which perceived organizational support is not as important because of high power-distance would be ________.
Example of a country in which perceived organizational support is not as important because of high power-distance would be China.
Human rights were violated by China
Coercive population control techniques, forced labour, arbitrary incarceration in internment camps, torture, physical and sexual assault, mass surveillance, family dissolution, and suppression of cultural and religious expression are only a few examples of human rights violations that have been documented.
China said on Monday that it would end its two-child policy, which had failed to increase the nation's dropping birthrates and prevent a demographic disaster, and allow all married couples to have three children.
Abortion is permitted in China?
In China, abortion is largely available and legal. Abortions that are not medically necessary after 14 weeks of pregnancy are not permitted in Jiangxi, but elective abortions are permitted in the majority of China. Regulations differ depending on the laws of the province.
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Debts owed by a business are referred to as? a.expenses b.stockholders' equity c.accounts receivables and.liabilities
Debts owed by a business are referred to as accounts receivables. Hence, Option C is correct.
What are Debts?In economics or in the context of business, debt is an amount of money that is owned by somebody. It is the opposite of a creditor. The one who gives the money to someone is the creditor, and the one who borrows the money is the debtor.
In other terms, it can be described as debt, which is a kind of financial liability or obligation. This is the kind of application where the person can be an adaptor to the creditor.
In terms of debt, it is the thing that is owned by a business and is referred to somewhere in the accounts receivable.
Therefore, Option C is correct.
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what is the best definition of the business environment? the rivals for a business's customers or resources the increasing interconnectedness of economies around the world the arena of forces that encourage or discourage the development of business
The arena of forces that encourage or discourage the development of businessis the best example of business environment.
The word "business environment" refers to the totality of all people, organizations, and other forces that are outside the power of an industry but can influence production. Understanding the business environment helps organizations create realistic plans and implement them effectively. It also helps businesses identify opportunities and threats. This business segment operates in three business environments: micro, market and macro. The owners of this sector have some control over the three business environments. A thorough examination of your business environment will ensure you have useful resources your business needs. It helps businesses track these resources and turn them into goods and services. The word "business environment" refers to the totality of all people, organizations, and other forces that are outside the power of an industry but can influence production. Understanding the business environment helps organizations create realistic plans and implement them effectively. It also helps businesses identify opportunities and threats. This business segment operates in three business environments: micro, market and macro. The owners of this sector have some control over the three business environments.
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Determining the selling price in the global marketplace is an extremely difficult task. Many countries still have rules governing the ________, including those that affect pricing.
Setting the selling price in a worldwide market is a very challenging undertaking. There are still laws in many nations that control the competitive market, including those that control prices.
More about competitive market:
The area of law known as "competitive law" seeks to preserve or promote market competition by enforcing corporations' anti-competitive behaviour. Both public and private entities are involved in the enforcement of competition law. The phrase "antitrust law" relates to competition law in the US.
It is also known as "anti-monopoly legislation" in China and Russia, and it was formerly referred to as "trade practises law" in the UK and Australia. In the European Union, it is known as both antitrust and competition law.
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Qt incorporated uses the accrual basis of accounting. Qt purchases a piece of equipment on july 1 of the current year for $40,000. If the company expects to use the equipment consistently for four years, how much depreciation expense will qt record in its december 31 financial statements?.
$5,000 depreciation expense will qt record in its december 31 financial statements
Financial statements are documents that describe a company's operations and financial performance. Government organizations, accounting companies, etc. frequently audit financial statements to guarantee accuracy and for tax, financing, or investing purposes. Financial statements are official records of a person, business, or other entity's financial situation and actions. An easy-to-understand format is used to provide pertinent financial data in a systematic manner. For large firms, these statements could be complicated and contain a substantial number of management discussion and analysis notes as well as the financial statements' extensive footnotes. Each line item on the balance sheet, income statement, and cash flow statement is often further explained in the notes.
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despite their differences, with which proposition are two economists chosen at random most likely to agree? minimum wage laws do more to harm low-skilled workers than help them. tariffs and import quotas generally reduce economic welfare. lawyers make up an excessive percentage of elected officials.
Tariffs and import quotas generally reduce economic welfare proposition are two economists chosen at random most likely to agree.
What's profitable weal?Welfare economics is a branch of economics that uses microeconomic ways to estimate well- being( weal) at the total( frugality-wide) position.Trying to apply the principles of weal economics gives rise to the field of public economics, the study of how government might intermediate to ameliorate social weal.What's the profitable weal of a society?Profitable weal is profitable good expressed in terms of the sum of consumer and patron fat – also known as community fat. Consumer fat exists whenever the price a consumer would be willing to pay in terms of their anticipated private benefit is lesser than they actually pay.Learn more about economic welfare here:
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An increase in the perceived riskiness of investments would cause a movement up along the supply curve. True or false?.
An increase in the perceived riskiness of investments would cause a movement up along the supply curve false.
The supply curve in economics is a visual representation of the connection between the cost of an item and the quantity that a seller is willing and able to produce. The vertical axis of the graph reflects product pricing, while the horizontal axis represents supply quantity.
The supply curve shows how the cost of a good or service relates to how much is provided over a certain length of time. In a typical situation, the price will be displayed on the left vertical axis and the quantity delivered will be displayed on the horizontal axis.
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Awards, news releases, and promotions are just some of the ways that organizations reward employee contributions. such employee recognition is known as a rite of?
Awards, news releases, and promotions are just some of the ways that organizations reward employee contributions. Such employee recognition is known as a rite of enhancement.
The rite of enhancement refers to the practice of recognizing and rewarding the contributions of employees. These may be in the form of awards, new releases, or promotions. They are bestowed on employees who performed exceptionally well or who exemplified the values of the organization.
This is a way of recognizing out a ‘model’ employee that the other employees can emulate. It is a strategy to encourage consistent performance from the achiever, and also to motivate the others to perform in a like manner.
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Why is economics important in marketing?
Workplace situation
You must inform a customer that the size of shirt she needs is out of stock until next week.
Instead of Saying...
"We don't have the shirt in your size."
Try Saying…
Currently we have a limited stock left due to high demands and the shipments are delayed so the size you require in this shirt will be available in the next week.
Who is a Customer?A customer is a buyer of the goods and or services provided or sold by a company. The company sells its goods and or services at a rate to the customer where the customer agrees the price and buy the product.
In the workplace situation it is important to be polite, gentle and straight forward to the customer. As the customer is king and should be treated well.
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green caterpillar garden supplies inc. just reported earnings after tax (also called net income) of $9,250,000 and a current stock price of $12.00 per share. the company is forecasting an increase of 25% for its after-tax income next year, but it also expects it will have to issue 3,000,000 new shares of stock (raising its shares outstanding from 5,500,000 to 8,500,000).
If Green Caterpillar’s forecast turns out to be correct and its price/earnings (P/E) ratio does not change, the company’s management expect its stock price to be one year from now will be $9.71
The computation of stock price is shown below:-
Current EPS = Net Income ÷ Number of Common Shares Outstanding
Current EPS = $9,250,000 ÷ 5,500,000 = $1.68
Current P/E ratio = Current stock price ÷ Current EPS
Current P/E ratio = $12 ÷ $1.68 = 7.14
Next year's EPS = $9,250,000 × 1.25 ÷ 8,500,000 = $1.36
Next year's stock price = $ 1.36 x 7.14 = $9.71
Net income refers to the income of an individual or business after deducting expenses, allowances and taxes. In commerce, net income is what is left in the business after all expenses such as salaries and wages, cost of goods and raw materials, and taxes.
Is Net income the Same as Profit?
Profit simply means the remaining income minus expenses. It exists at multiple levels, depending on the type of cost that is deducted from the revenue. Net income, also known as net profit, is a single number that represents a particular type of profit. Net income is the famous last line of financial statements.
Is the net income before tax or after tax?
Gross and net are two important terms in the financial industry that refer to before and after paying a particular expense. In general, the “difference” refers to the amount after deducting expenses. Therefore, net income after tax is simply the amount remaining after deducting taxes.
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An increase in prices of inputs will cause a ____________change in prices with an elastic demand as opposed to an inelastic demand. The change in input prices will cause a ___change in quantity if demand is elastic as opposed to an inelastic demand.
An increase in prices of inputs will cause a relatively small increase change in prices with an elastic demand as opposed to an inelastic demand. The change in input prices will cause a relatively small drop change in quantity if demand is elastic as opposed to an inelastic demand.
The lowest price at which a company may sell a product while still making a profit is determined by the input prices. The cost of making the product is reflected in this pricing. To create an output while producing an item or service that is in demand, a process must be applied to the inputs. The prices of the things that a company pays for in order to make its goods are referred to as input prices. All costs involved in producing the in-demand product are added together to get the total input cost. The input price is calculated by dividing the output quantity by the unit price.
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The absorption cost approach provides for the absorption of all manufacturing costs, fixed and variable, into units of product. True or false?.
The absorption cost approach provides for the absorption of all manufacturing costs, fixed and variable, into units of product is a true statement.
What is absorption cost approach?
Absorption costing or absorption cost approach is often called as “full costing.
It is a method of managerial accounting for capturing all costs which are associated with manufacturing of a particular product.
The "direct" and "indirect" costs, such as insurance,direct labor,direct materials, rent etc are accounted for using this method.
Absorption costing is required by GAAP or Generally Accepted Accounting Principles for external reporting.
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Explain scarcity, oppotunity cost and trade offs
Answer:
Scarcity as an economic concept "refers to the basic fact of life that there exists only a finite amount of human and nonhuman resources which the best technical knowledge is capable of using to produce only limited maximum amounts of each economic good." the opportunity cost of a particular activity is the value or benefit given up by engaging in that activity, relative to engaging in an alternative activity. More simply, it means if you chose one activity you are giving up the opportunity to do a different option.trade-off is a situational decision that involves diminishing or losing one quality, quantity, or property of a set or design in return for gains in other aspects. In simple terms, a tradeoff is where one thing increases, and another must decrease.Explanation:
which of these sentences de-emphasizes the bad news? although the company cannot reimburse you for tuition costs, you may attend class during work hours. although you can attend class during work hours, the company cannot reimburse you for tuition costs. because we pay only for in-house classes and workshops, you will not receive company funds for tuition costs. because of our educational benefits policy, you may not receive funds for tuition costs.
The sentences de-emphasizes the bad news, Although the company cannot reimburse you for tuition costs, you may attend class during work hours.
Why does the active voice appeal to business writers more?Writing in the active voice: Makes the writing more concise and effective by using fewer words; faster-moving narrative is produced, making writing and reading easier and more interesting; improves the sentence's clarity and aids in avoiding grammatical errors.
What are the fundamental components of a paragraph?An successful paragraph should always have the following four components: unity, coherence, a topic sentence, and adequate development.
Which of the following best describes the three writing process stages?Pre-writing, drafting, and the final revising stage, which includes editing and proofreading, are the three steps that make up the writing process.
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Corita is a salesperson with maryland’s best realty and is slammed with clients right now; so much so that she wants another agent with her firm, spencer, to handle listing corita’s own home. What does spencer need to make sure to do?
Spencer needs to make sure to disclose that he and Corita work together at the same firm.
Widely speaking, the definition of a 'company' in the subject of economics is any business enterprise that seeks to make earnings through production or selling services or products – or each – to customers. As an instance, one of the most common uses of this term is for 'regulation companies,' which normally promote offerings in relation to the regulation.
A firm is an enterprise that seeks to make earnings through the sale of goods and services. The term company is synonymous with commercial enterprise or agency. Corporations can perform below several distinctive systems, along with sole proprietorships and groups.
Examples of firms are a sole proprietorship, partnership, restricted legal responsibility organization, or organization. The time period is barely greater than generally associated with a partnership.
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on january 1, linden has total assets of $100,000, total liabilities of $30,000, and total stockholders' equity of $70,000. linden purchases $20,000 of supplies on account, and $2,000 of prepaid rent for cash. after these transactions, total assets equal
Linden purchases $20,000 of inventory in the account and $2,000 of prepaid rent in cash. After these transactions, total assets will be $120,000.
$100,000 + $20,000 inventory + $2,000 prepaid rent - $2,000 cash = $120,000 total assets.
In financial accounting, an asset is a resource owned or controlled by a firm or economic entity. It is anything that can be used to create positive economic value. An asset represents the value of an asset that can be converted into cash.
An asset is a resource of economic value owned or controlled by an individual, firm, or country with the expectation of future profit. Assets are reported on the company's balance sheet. They are classified as short-term, fixed, financial, and intangible.
's assets include physical items such as machinery, property, raw materials, and inventory, and intangible items such as patents, royalties, and other intellectual property.
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