________ Can Adopt One of Two Competitive Strategies: They Can

question 149

Multiple Choice

________ can adopt one of two competitive strategies: they can challenge the leader or they can play along with competitors and not rock the boat.

• A) Runner-up firms
• B) Market nichers
• C) Market followers
• D) Localized marketers
• E) Market developers

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Definitions:

Inherited Property

Property one receives from a deceased person's estate, subject to specific tax rules and basis determinations.

Inventory

Goods and materials a business holds for the ultimate goal of resale or production.

Section 1231

This is a section of the U.S. Internal Revenue Code that provides favorable tax treatment for gains and losses on the sale or exchange of certain types of property used in a trade or business.

Capital Losses

Capital losses occur when the sale of a capital asset, such as stocks or real estate, results in a loss, which can offset capital gains for tax purposes.