The Process by Which New Technologies Come on in Waves

question 22

Multiple Choice

The process by which new technologies come on in waves and eliminate old ones is called

• A) efficiency improvement.
• B) entrepreneurship.
• C) capital intensity.
• D) creative destruction.

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Definitions:

Inventory Accounts

Inventory accounts are accounting records that track the quantity and value of products a company holds for sale.

Raw Materials

Basic materials or substances used in the production or manufacturing process to create finished goods.

Finished Goods

Merchandise that has concluded its fabrication phase and is set for market sale to end-users.

Management Accounting

Management accounting involves the preparation of financial reports and analyses to help managers in decision-making processes related to the operation and strategic planning of a company.