In Addition to Making Old Products Obsolete,technological Advances

question 8

Multiple Choice

In addition to making old products obsolete,technological advances:

• A)actually destroy existing products.
• B)weaken the ability of companies to make competitive products.
• C)create gaps in product development.
• D)make new products possible.

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Definitions:

Annual Basis

Annual basis refers to any financial calculation or performance measurement taken over or normalized for a single year.

Outstanding Checks

Checks that have been issued and recorded in the issuing party's records but have not yet been cashed or cleared by the bank.

Deposits in Transit

Deposits in transit are amounts that have been received and recorded by a business but have not yet been reflected in the bank's records.

Bank Reconciliation

The act of reconciling the cash account balances recorded in an organization's bookkeeping with the related data found on a bank statement.