Since the Introduction of the IPhone, a Booming Market for Smartphone

question 63

Multiple Choice

Since the introduction of the iPhone, a booming market for smartphone applications has emerged. It is most accurate to say that this new opportunity was created through changes in the ________ environment.

• A) political and legal
• B) technological
• C) sociocultural
• D) economic
• E) competitive

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Definitions:

GAAP Standards

Generally Accepted Accounting Principles (GAAP) are a collection of commonly followed accounting rules and standards for financial reporting.

Planning and Control Tool

Instruments or techniques used in the management process to set objectives, assess future trends, and oversee progression towards desired outcomes.

Acid-Test Ratio

A financial metric used to determine a company's short-term liquidity situation by comparing its most liquid assets, excluding inventory, to its current liabilities.

Current Assets

Short-term assets that are expected to be converted into cash, sold, or consumed within one year or within the business's operating cycle, including cash, inventory, and receivables.