Technological Innovation in Marketing Has Direct Effects on the Efficiency

question 18

Multiple Choice

Technological innovation in marketing has direct effects on the efficiency of business. Which of the following statements is true?

• A) Technological innovation has complicated the production process, so products take longer to produce.
• B) Technological innovation has increased demand, therefore products cost more to distribute.
• C) Technological innovation allows for customization in order to meet diverse customer needs.
• D) Technological innovation causes higher prices because of the distance that raw materials have to travel.

Understand the role of a feasibility study in the business planning process.

Identify the importance of market analysis and competitive analysis in a business plan.

Recognize the significance of conveying business weaknesses and strategies to overcome them.

Differentiate between the Business Model Canvas and more traditional business planning documents.

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Definitions:

Previous GAAP

The Generally Accepted Accounting Principles that were in place before the current set or version was adopted.

Recognize Assets

The process of recording an item in the financial statements as an asset, acknowledging its probable future economic benefits.

Derecognize

The removal of an asset or liability from a company's financial statements, often due to it being sold, fully depreciated, or disposed of.

Reclassify Items

The process of moving accounting entries from one ledger or category to another to correct or clarify financial statements during the preparation process.