Which of the Following Is an Example of a Barrier

question 543

Multiple Choice

Which of the following is an example of a barrier to entry?

• A)Tom charges a higher price than his competitors for his golf lessons.
• B)Dick charges a lower price than his competitors for his lawn-mowing services.
• C)Harry offers free concerts on Sunday afternoons as a form of advertising.
• D)Larry obtains a copyright for the new computer game that he invented.

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Definitions:

Intangible Assets

Intangible assets are non-physical assets owned by a company that have a useful life and provide future economic benefits, such as patents, trademarks, and goodwill.

Physical Form

Physical form refers to the tangible appearance or structure of an item, indicating its material composition and physical characteristics.

Long-term

Pertains to assets, liabilities, investments, or obligations that are expected to be resolved or realized beyond one year.

Income Summary

The income summary account is used in the closing process of accounting to summarize revenue and expenses for a specific period, helping determine the net income or loss.