According to Economists, a Fragmented Industry Is an Industry Which

question 56

Multiple Choice

According to economists, a fragmented industry is an industry which ________.

• A)has a lot of competitors
• B)produces multiple products
• C)competes in different markets
• D)has a lot of functional divisions

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Definitions:

Modified Cash Basis

An accounting method that combines elements of both cash and accrual accounting techniques.

Warranty Expense

Costs recognized by a company in accordance with its policy to repair or replace defective products during a warranty period.

Matching Concept

The Matching Concept in accounting states that expenses should be matched with the revenues that they helped to generate, in the same reporting period.

Uninsured Risk

Risk that has not been covered by an insurance policy, leaving the individual or business exposed to potential financial loss.