One of the Greatest Advantages That Small Businesses Have Over

question 84

True/False

One of the greatest advantages that small businesses have over larger ones is the ability to know their customers better and to adapt quickly to the customers' needs.

---

Definitions:

Annual Depreciation

The portion of the total cost of a tangible asset that is expensed each year over its useful life.

Book Value

A rephrased definition: The net value of an asset or liability recorded on the financial statements, factoring in depreciation, amortization, and impairment, but not necessarily indicative of market value.

Activity-Based Method

An accounting method that assigns costs to products or services based on the activities and resources that go into producing them, to more accurately reflect the costs associated with each product or service.

Usage Hours

A measure of the time that an asset is actively used in production or operations.