In an Effort to Take Advantage of a Market Opportunity

question 73

Multiple Choice

In an effort to take advantage of a market opportunity, Apple created the iPhone in open-source format so that anyone can develop and sell an iPhone application. What is this an example of?

• A) proactive change
• B) reactive change
• C) managing change
• D) transformational change

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Definitions:

Depreciable Equipment

Tangible assets used in operations that lose value over time due to wear and tear, which can be written off as an expense for tax purposes over its useful life.

Net Income

The ultimate profit a company makes, determined by taking away all expenses, taxes, and costs from the total income generated.

Cash Outflow

The total amount of money being transferred out of a business, including expenses, investments, and other payments.

Marginal Tax Rate

The rate of tax income of an additional dollar of income.