A Prototype Is ________

question 75

Multiple Choice

A prototype is ________.

• A) a form of opportunity recognition
• B) a tool for evaluating the industry a new firm plans to enter
• C) a financial model
• D) the first physical depiction of a new product
• E) a tool for evaluating the organizational prowess of a new firm

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Definitions:

Long-Term Assets

Assets that will not be converted into cash within one year.

Patents

Legal documents granted by governments giving inventors exclusive rights to their inventions, preventing others from making, using, or selling the invention without permission for a certain period.

Short-Term Assets

Assets that will be converted into cash within one year.

Prepaid Expenses

Payments made for goods or services to be received in the future, recognized as assets on a balance sheet until they are incurred as expenses.