The Strategy of Moving into New Lines of Business Is

question 45

Multiple Choice

The strategy of moving into new lines of business is called ______.

• A)individuation
• B)differentiation
• C)acquisition
• D)expansion
• E)diversification

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Definitions:

Owner Drawings

Withdrawals of cash or other assets from a company by the owner for personal use.

Revenue

The total income generated by a business from its normal business operations.

Post-Closing Trial Balance

A list of all accounts and their balances after closing entries are made, used to check the equality of debits and credits and prepare for the next accounting period.

Income Statement

A financial statement that shows a company's revenues, expenses, and profits or losses over a specific period.