Which of the Following Is an Element of a Competitive

question 70

Multiple Choice

Which of the following is an element of a competitive environment?

• A)innovation and risk taking
• B)the degree of interdependence within the industry
• C)the consumer's income
• D)consumers' varied demographic characteristics

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Definitions:

Estimated Realizable Value

The anticipated amount of money that an asset is expected to bring upon sale or disposition, after accounting for costs of sale or disposal.

Accounts Receivable

Accounts receivable are amounts owed to a company by its customers for goods or services delivered on credit but not yet paid for.

Allowance Method

The allowance method is an accounting technique that estimates and accounts for bad debts, recognizing that a certain percentage of accounts receivable may not be collectible.

Bad Debts Expense

The portion of accounts receivable that is estimated to be uncollectible during a period.