One of the Major Advantages of Being the First to Develop

question 198

Multiple Choice

One of the major advantages of being the first to develop a product is

• A) an increase in the average total cost of production.
• B) less need for legal protection for the product.
• C) the opportunity to be bought out for a profit.
• D) the ability to use the fast-second strategy.

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Definitions:

Decision Making

The process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.

Audit Log

A record that tracks the sequence of activities or changes in a system, often used for security and compliance purposes.

Transaction Journal

A detailed record showing all the financial transactions of a business, used for accounting and auditing purposes.

Internal Control

Processes and procedures implemented by a company to ensure integrity of financial and accounting information, promote accountability, and prevent fraud.