One of the Potential Benefits to a Firm of Introducing

question 21

Multiple Choice

One of the potential benefits to a firm of introducing new-to-the-world products or services is

• A)cost savings.
• B)late majority marketing.
• C)establishment of a completely new market.
• D)the ability to avoid paying pioneers for new product development.
• E)the ability to capitalize on existing consumer preferences.

---

Definitions:

Profit & Loss Statement

A financial report that shows a company's revenues, expenses, and profits or losses over a specific period of time.

Account Types

This refers to the various categories used in accounting to classify financial transactions, such as assets, liabilities, equity, revenue, and expenses.

Revenues

Represent the total amount of income generated by the sale of goods or services related to a company's primary operations.

Asset Accounts

Accounts that represent the resources owned by a business, which are expected to provide future benefits.