Forward Invention Is ________

question 164

Multiple Choice

Forward invention is ________.

• A) creating a new product to meet a need in another country
• B) creating a new product to meet the need in the home country
• C) inventing products that are superior to competing offerings
• D) taking an existing product into a new market
• E) inventing something that as yet has no "market"

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Definitions:

Credit Balance

An accounting balance where the sum of credits exceeds the sum of debits in an account, often indicating money owed to the account holder.

Salaries Payable

A liability account that represents the amount owed to employees for work performed but not yet paid.

Reversing Entry

An accounting entry made at the beginning of an accounting period to negate the effects of certain adjusting entries made in the previous accounting period.

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.