What Caused Polaroid to Go Bankrupt

question 27

Multiple Choice

What caused Polaroid to go bankrupt?

• A) It failed to have innovative technology and a captive customer base.
• B) One-hour film processing and digital cameras stole its market share.
• C) People who want instant access to their pictures also want a third party involved.
• D) Internet websites such as Flickr and Facebook stole its market share.

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Definitions:

Credited

Recognized or recorded as an increase in assets or a decrease in liabilities in accounting records.

Accrued Expense

Expenses that have been incurred but not yet paid, representing liabilities for goods or services received but not yet invoiced.

Recognising

The process of recording an item in the financial statements when it meets the criteria set by accounting standards.