If Microsoft Decided to Sell Mobile Phones Under the Xbox

question 128

True/False

If Microsoft decided to sell mobile phones under the Xbox brand (which it uses for its gaming systems), this would be an example of a line extension.

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Definitions:

Promissory Note

A financial instrument where one party (the issuer) promises in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms.

Maturity

The date on which a financial obligation, such as a bond or loan, is due to be fully repaid.

Receivable

An amount owed to a business, typically by customers, that is expected to be paid within a short duration.

Party

An individual or entity involved in a legal transaction or agreement.