Incremental Technological Change Refers to a Fundamental Shift in Technology

question 16

True/False

Incremental technological change refers to a fundamental shift in technology that revolutionizes products or the way in which they are produced.

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Definitions:

Journal Entry

A record of a financial transaction in an accounting system, noting the accounts and amounts debited and credited.

Interest Expense

The cost incurred by an entity for borrowed funds, often expressed as an annual percentage of the principal.

Discount on Bonds Payable

The difference between the face value of a bond and its selling price, when the bond is sold for less than its face value.

Cash

Money in the form of coins or banknotes, especially that of a country or a particular denomination.