A Substitute Exists If the Service or Product Performs a Similar

question 2

True/False

A substitute exists if the service or product performs a similar function.

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Definitions:

Long-term Assets

Assets that are expected to provide economic benefits to a company for a period longer than one year, such as real estate or equipment.

Exchange Rate

The price of one currency expressed in terms of another currency, determining how much of one currency can be exchanged for another.

Canadian Dollars

The official currency of Canada, represented by the symbol CAD.

Trading Securities

Financial instruments like stocks or bonds held by a firm, primarily for the purpose of selling them in the near term to realize a gain.