Which of the Following Are Sources of Innovation

question 20

Multiple Choice

Which of the following are sources of innovation?

• A)unexpected occurrences and incongruities
• B)duplication and processes
• C)synthesis and technology
• D)industry changes and extension

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Definitions:

Adjusting Entry

A journal entry made at the end of an accounting period to record any unrecognized income or expenses for that period.

Sales Tax

Sales tax is a government levy imposed on the sale of goods and services, collected by the seller from the buyer at the point of sale.

Cash Sales

Transactions in which payment is received at the time of sale, typically in cash or equivalent.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that aim to make financial statements comparable across international boundaries.