A Company in a __________ Industry Is LEAST Likely to Make

question 34

Multiple Choice

A company in a __________ industry is LEAST likely to make heavy use of patents and copyrights.

• A) slow-cycle
• B) medium-cycle
• C) standard-cycle
• D) fast-cycle

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Definitions:

Efficient Operations

Activities optimized to use the least amount of resources to achieve the desired level of output.

Protecting Assets

Implementing security measures to safeguard a company’s tangible and intangible assets from loss, theft, or damage.

Reliable Accounting

Accounting practices that are consistently accurate and trustworthy, providing a true and fair view of an organization's financial situation.

Internal Control Principle

Guidelines and procedures designed to safeguard assets, enhance the accuracy and reliability of accounting records, and ensure compliance with laws and regulations.