The Industry Within Which a Product Will Compete Should Affect

question 18

Multiple Choice

The industry within which a product will compete should affect the format of an organization's business or marketing plan. However, since the complexities of products can differ greatly,

• A) the size of the potential workforce included in their plans differs.
• B) the investment potential of investors included in their plans differs.
• C) the experience of the key personnel demonstrated in their plans differs.
• D) the time periods likely to be covered by their plans differ.
• E) the knowledge of technical language used in their plans differs.

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Definitions:

Long-term Goals

Objectives or plans that are intended to be achieved over an extended period, typically exceeding one year.

Fixed Asset

Long-term tangible assets that are used in the operations of a business and are not expected to be consumed or converted into cash within a year.

Useful Life

The period over which an asset is expected to be used by an entity, or its lifespan for accounting purposes.

Residual Value

The estimated value of a fixed asset at the end of its useful life.