Intrepid Creations is a product design institute that provides educational courses in package design.It manages to acquire the right to use simulation software from Marco Software for a payment of $2,000 a year.There is no clause of expiration on this arrangement and the right to access the software is renewed annually.Which of the following business arrangements does the aforementioned scenario indicate?

Question

Quizplus · Accepted Answer

The scenario indicates a licensing arrangement where Intrepid Creations pays for the right to use the simulation software from Marco Software, and it renews annually with no clause of expiration mentioned.

Intrepid Creations Is a Product Design Institute That Provides Educational