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-Record payment made to vendor
a. Purchases journal
b. Revenue journal
c. Cash receipts journal
d. Cash payments journal
e. Accounts receivable subsidiary ledger
f. Accounts payable subsidiary ledger
g. General journal
Diversification
A strategy to reduce risk by allocating investments or focusing efforts across various financial instruments, industries, or other categories.
Product Development
The process of conceptualizing, designing, creating, and bringing a new product or service to market.
Market Development
Strategies aimed at increasing the market size for a product or service through new market segments or new geographies.
Market Penetration
A measure of the extent to which a product or service is recognized and purchased by customers within a particular market.
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